FX.co ★ Technical analysis on GBP/CHF for April 21, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair is just stalling ahead of 1.4850 levels for now. Implication from here is a dip into 1.4650/00 or 1.4700 before the next rally resumes. It is recommended to buy on dips for now. If 1.4850/60 level is taken out first, the retracement shall be more meaningful.

2. Support is at 1.4650, followed by 1.4450, 1.4350 and lower while resistance is a 1.4850, followed by 1.4950/60 and 1.5120 respectively.

3. The structure indicated that GBP/CHF bulls remain in control for now. Fresh long positions can be taken on dips.

Trading recommendations:

Remain flat for now. Buy on dips.

Good luck!