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07.05.2012 10:40 AM
GBP/CHF Is Heading towards 1.5200

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 Technical Outlook and Chart Setup:

Finally the single currency clears resistance at 1.4790. As depicted above the wave structure now looks as follows: A=1.3800, B=1.4790, C=1.4200. Presently prices are carving out extension swing top towards D=1.5200 and 1.5400. The channel line support remains intact and the new Trend Line has been depicted above. As long as time prices remain above channel line support, the pair is exected to reach new highs. 

Trade Recommendations:

Buy-deals are recommended around 1.4700; The place for Stop Loss is to be revised to 1.4700 from 1.4600 (as less risky for now) with 1.5200 and 1.5400 seen as targets.

 

Best Regards,

Summary
Urgency
Analytic
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