FX.co ★ Technical analysis of GBP/CHF for April 11, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair reverses ahead of the 1.4850 mark. At the moment the pair is trading well below 1.4700. It is expected to receive interim support at 1.4600 levels for now. a bullish reversal there should prompt us to exit short positions.

2. Support is seen at 1.4650/60, followed by 1.4520, 1.4450, 1,4350 and lower, while resistance is seen at 1.4850, followed by 1.4950/60 and 1.5120 respectively.

3. The structure reveals that GBP/CHF could possibly see support at 1.4600 levels. A break below, would confirm that a lower top is formed and prices are headed towards 1.4350 and lower.

Trading recommendations:

Remain short for now, stop is at 1.4850, target is at 1.4600 and 1.4350.

Good luck!