FX.co ★ Technical analysis of GBP/CHF for November 18, 2015

Technical outlook and chart setups:

The GBP/CHF pair might have finally reached an intermediate high at 1.5470 reversing lower. The pair is already overdue for a corrective drop towards 1.4900 before the rally could resume further. Moreover, there is a pin-bar candlestick pattern as well on the H4 chart followed by a potential engulfing bearish underway now. The aggressive trade setup would be to go short with risk at 1.5500. A conservative way would be to remain flat now. Immediate interim resistance is seen at 1.5470, while support is seen at 1.5350.

Trading recommendations:

Aggressive: Stay short with stop at 1.5500, a target is at 1.4900

Conservative: stay flat.

Good luck!