FX.co ★ Technical analysis of GBP/CHF for Aug 29, 2014

Technical outlook and chart setups:

1. The GBP/CHF pair has been stalling at 1.5200 levels for a few trading sessions now, as seen here. Also, the trend line resistance is passing through the same region. It is recommended to initiate 50% of short positions at the current levels, risk remains at 1.5350.

2. Support is seen at 1.4950, followed by 1.4780 and lower while resistance is seen at 1.5350, followed by 1.5450 respectively.

3. The structure indicates that GBP/CHF remains bearish below the 1.5350 level.

Trading recommendations:

Remain short, at current levels and more at 1.5250, stop at 1.5350, the target is open.

Good luck!