FX.co ★ Technical analysis of GBP/CHF for November 13, 2015

Technical outlook and chart setups:

The GBP/CHF pair remains structurally unchanged until prices remain broadly below 1.5350. Bears should be poised to push prices lower towards the levels of 1.4800/50 as depicted here. Also note that there is a Fibonacci convergence coming around the level of 1.4800 as well. Watch out for prices to turn bullish again. For now, it is recommended to ride a potential counter trend drop and remain short with risk at 1.5350. Immediate resistance is seen at 1.5350 followed by 1.5400/10, while support is seen at the levels of 1.4900 and lower.

Trading recommendations:

Remain short with stop at 1.5380, a target is at 1.4800. Go long then.

Good luck!