03.04.201409:47 Technical analysis of GBP/CHF for April 03, 2014

Long-term review

Exchange Rates 03.04.2014 analysis

Technical outlook and chart setups:

1. The GBP/CHF pair still need to present clarity over the next probable move. The 1.4800 level remains key for now. A break above, would confirm that prices ate targeting 1.4850 and 1.4960 at least. While a reversal from current levels, brings back bears into control. Recommendations are to remain short for now, risk is at 1.4800.

2. Resistance intermediary is seen at 1.4850/60, followed by 1.4960 and 1.5120 on the higher side, while supports are spread through 1.4450, followed by 1.4350 and lower respectively.

3. The structure needs further clarity to commit fresh positions at the moment. If this is a false break out, prices should come back again in the sell zone of resistance line below 1.4600 soon. On the other side a break above 1.4800, would signify that bulls remain in control.

Trading recommendations:

Remain short for now, set stop at 1.4800 levels, target is open.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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