FX.co ★ Technical analysis of GBP/CHF for May 20, 2014

 Technical outlook and chart setups:

1. The GBP/CHF is still trading close to the 1.5000/10 levels as seen here.  The pair is facing stiff resistance ahead of the 1.5020 levels. A final thrust may be possible, before the pair gives in to bears. Recommendation is to remain short for now, risk is at 1.5040/50 for now.

2. Support is seen at 1.4900, followed by 1.4780, 1.4550, 1.4450 and lower, while resistance is at 1.5120 respectively.

3. The structure indicate that the pair should correct itself lower till prices stay below 1.5040/50 levels. Minimum expectations are the 1.4700 levels from here on.

Trading recommendations:

Remain short, stop at `1.5050, target is open.

Good luck!