FX.co ★ Technical analysis of GBP/CHF for April 15, 2016

GBP/CHF overall trend is bearish and currently the corrective wave up might be just about to end as the price has rejected 64.8% Fibonacci resistance level applied to the descending channel breakout.

At the same time, the price broke below the S3 (1.3500) support and now it is rejecting not only Fibs, but also a downtrend trend line.

Consider selling GBP/CHF while the price is near R1, targeting either S2 (1.3590), S3 (1.3500) or S4 (1.3565) as the final target. The stop loss should be just above R2 (1.3810).

Support: 1.3660, 1.3590, 1.3500, 1.3365

Resistance: 1.3730, 1.3810