FX.co ★ GbpChf at 0.618 Fibonacci Support Of Recent Upswing.

Technical Outlook and Chart Setups:

As depicted above, prices are testing support at 0.618 Fibonacci levels (1.5080/90). A bullish bounce here will keep the bulls. Soon a push here is expected to take prices above 1.5350 level. Therefore, it is recommended to buy at current level. Intermediary resistance is at 1.5250, while support is placed at 1.5 level. A breakdown below 1.5 level is supposed to shift focus to 1.49 level, this scenario is less probable. Bullish for now.

Trade Recommendations:

Hold on to long positions taken yesterday, or take fresh positions at current levels, stop below 1.5, target open.

Good Luck!