empty
 
 
02.04.2014 01:13 PM
Technical analysis of GBP/CHF for April 02, 2014

This image is no longer relevant

Technical outlook and chart setups:

1. The GBP/CHF pair seems to be on cross roads at the moment. The pair has to come back into the sell zone of the resistance line below 1.4700 levels to confirm further bearish setup. A push above the 1.4790 levels, would confirm that bulls remain in control for now. It is recommended to remain short for now, reduce risk to 1,48 levels though.

2. Resistance is seen at 1.4850/60 (intermediary), followed by 1.4950/60, and 1.5120 while support begins from 1.4450/70 (intermediary), followed by 1.4350 and lower respectively.

3. The entire structure indicates that GBP/CHF needs to break into the resistance line or above 1.4800 levels to decide further moves. Probabilities remain both sides now. Avoid initiating fresh positions at the moment.

Trading recommendations:

Remain short on earlier positions, stop is at 1.4800, target is open.

Good luck!

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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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