FX.co ★ Technical analysis of GBP/CHF for February 10, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair has been trading in a range since last 5 sessions, between 1.4650 and 1.4750 respectively. It is recommended to hold short positions and also look to sell on rallies.

2. Immediate resistance is 1.4950/60, followed by 1.5120/30, while supports are at 1.4560, followed by 1.4400/4350, and 1.4200, respectively.

3. The structure reveals that a major high could be in place at 1.4120/30 now. Prices should continue towards 1.4400, 1.4200 and even lower in the coming weeks.

Trading recommendations:

Hold on to short positions, stop at 1.5130, target at 1.44 and 1.42.

Good luck!