FX.co ★ Technical analysis of GBP/CHF for July 14, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be bouncing off the fibonacci 0.50 levels around 1.5225 region. It has remained just shy of the fibonacci 0.618 support levels and please note that the inner trend line is passing through the same region. Recommendations are to remain flat or initiate long positions, risk remains below 1.5200.

2. Support is seen at 1.5150, followed by 1.4950, 1.4780, 1.4650 and lower while resistance is seen at 1.5350/60 respectively.

3. The structure indicates that GBP/CHF could bounce back from current levels and continue rallying further. 

Trading recommendations:

Remain flat or initiate long positions, stop below 1.5150.

Good luck!