empty
 
 
06.01.2014 08:23 AM
Technical analysis of GBP/CHF for January 06, 2014

This image is no longer relevant

Technical outlook and chart setups:

1. The single currency pair has been stalled at the 0.786 retracement/resistance of the down swing from 1.4900 to 1.4350 recently. It is still recommended to remain short and also plan to add more around the current price 1.4850/60.

2. Immediate resistance is at the 1.4900/50 level, while supports are spread through 1.4600 followed by 1.4350, 1.4200, and 1.4050, respectively. A push through 1.4650 would accelerate down side.

3. The structure reveals that GBP/CHF should continue drifting lower towards the 1.4200 and 1.4000 levels, respectively. The 1.4950 level should remain intact though.

Trade recommendations:

Remain short, stop is at 1.4950, target is 1.4000

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