FX.co ★ Technical analysis of GBP/CHF for December 21, 2015

Technical outlook and chart setups:

The GBP/CHF pair is holding support at 1.4730, which is Fibonacci 0.786, of the entire rally between 1.4550 and 1.5550/70 respectively. Also, the trend-line support has been being tested for the last several trading sessions. A drop from here, would indicate a deeper correction. At the moment, bulls are having an advantage of the trend-line support. It is hence recommended to remain long with risk at 1.4700. Immediate support is seen at 1.4700 followed by 1.4550, while resistance is seen at 1.5000 followed by 1.5150 an higher respectively.

Trading recommendations:

Remain long with stop at the level of 1.4700.

Good luck!