22.04.201408:38 Forex Analysis & Reviews: Technical analysis of GBP/CHF for April 22, 2014

Long-term review

Exchange Rates 22.04.2014 analysis

Technical outlook and chart setups:

1. The GBP/CHF pair breaks down 1.4850/60 levels at this moment of writing. The pair needs to be bought on dips from here on. It remains possible that bulls will drag prices to 1.4950/60 levels before a meaningful retracement can take place. The 1.4600/50 area would be the area of focus to buy.

2. Support is at 1.4650 followed by 1.4450, 1.4350, 1.4250 and lower, while resistance is at 1.4950/60 followed by 1.5120/30, respectively.

3. The structure indicates that GBP/CHF should resume retracement for the rally between 1.4450 and 1.4850 any time soon. The 1.4600 remains key level for the bulls to resume the underlying trend.

Trading recommendations:

Remain flat for now, you can look to buy lower around 1.4600/50.

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.