FX.co ★ Technical analysis of GBP/CHF for January 07, 2014

Technical outlook and chart setups:

1. The single currency pair is testing the backside of the broken line of support at 1.4800/50. At the moment it is recommended to remain short with risk at 1.4950.

2. Resistance is at 1.4950, while support is at 1.4550 (intermediary) followed by 1.4350, 1.4200, and 1.4000, respectively.

3. The entire structure reveals that a huge down swing should begin towards atleast 1.4000 in the coming weeks. 1.4950 should remain intact for now.

Trade recommendations:

Remain short, stop at 1.4950, target 1.4

Good luck!