03.04.201409:47 Forex Analysis & Reviews: 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.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
Can't speak right now?
Ask your question in the chat.