empty
 
 
27.02.2013 10:03 AM
GBP/CHF Looking Lower. Remain Short From 1.41 Levels

This image is no longer relevant

Technical Outlook and Chart Setups:

As seen here on the 4H chart view, bearish structure remains unchanged from yesterday. The currency pair has hit fibonacci 0.618 resistance level before reversing at 1.4100. Immediate resistance is around 1.4250, followed by 1.4350 and 1.45 respectively. Intermediary support is just below 1.40 for now. It is recommended to remain short from yesterday around 1.41 levels; prices are expected to fall towards 1.39, 1.38 and lower from here on. Please note that 1.4250 remains the key to a bullish reversal.

Trade Recommendations:

Stay short, stop is at 1.4300, target is towards 1.38.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback