empty
 
 
10.09.2014 05:01 AM
Technical analysis of GBP/CHF for September 10, 2014

This image is no longer relevant

Technical outlook and chart setups:

The GBP/CHF pair is seen to be pausing at 1.5000 levels for now. Please, note that the pair had reversed from the 1.5430 level earlier and also formed a lower top at the 1.5250/75 levels on September 02, 2014. The fibonacci extensions are pointing lower towards the 1.4800 level at least for now. Intraday rallies could be used as potential to enter short positions. Immediate support is at the 1.4950/60 levels, followed by 1.4760/70 and lower while resistance is seen at the 1.5250/75 levels, followed by 1.5350 and 1.5430/50 respectively. Bears should remain in control till 1.5350 remains intact. Please, also note that the current fall can be defined only as correction before the rally between 1.4450 and 1.5430 levels. Look lower for now.

Trading recommendations:

Remain short, stop at 1.4350, the target is at 1.4800.

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