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10.05.2012 09:41 AM
GBP/CHF - Buy on Dips - Technical Analysis and Trading Recommendations

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Technical Outlook and Chart Setups:

As discussed earlier and depicted above, there is no major change in the wave structure. Yesterday, the single currency pair managed to reach the 1.5000 psychological levels before pulling back. 1.4750 - 1.4800 shall provide strong support, and pullbacks will be capped above these levels. It is recommended to buy on dips and target at 1.5200 - the minimum in coming sessions. All channel line and trend lines remain intact as depicted above.

Trading Recommendations:

Buy around 1.4700, move the stop to the 1.4800 level from 1.4700, target at 1.5200 and 1.5400

 

Best regards,

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