FX.co ★ Technical analysis of GBP/CHF for November 23, 2015

Technical outlook and chart setups:

The GBP/CHF pair could drop lower towards 1.5350 before finding the trend-line support as depicted on the H4 chart. Please also note that the fibonacci 0.382 support is lined up there as well. Only a breakout below the trend line support and a subsequent breakout below 1.5000 would confirm that the pair is in for a larger correction. It is recommended to remain flat and wait for a reaction around the levels of 1.5350 levels. Immediate support is also seen just below 1.5300 followed by 1.5000, while resistance is seen at 1.5570 (interim).

Trading recommendations:

Remain flat for now. Watch around 1.5300.

Good luck!