empty
 
 
19.09.2014 11:27 AM
Technical analysis of GBP/CHF for September 19, 2014

This image is no longer relevant

Technical outlook and chart setups:

The GBP/CHF pair has broken put of resistance levels at 1.5350 today and fresh highs been registered at 1.5450, triggering stops. As seen on the daily chart view here, the pair has bounced off the fibonacci 0.382 support levels (1.4975) of the rally between 1.4450 and 1.5430. Immediate support is now at 1.4975, followed by 1.4760/70 and lower. The pair could extend the rally into the 1.56/57 levels in coming sessions. It is recommended considering intraday dips towards 1.5150/5200 levels as opportunities to go long, as bulls should now remain in control till prices remain above 1.4970/80. Only a break below 1.4975 should be of any concern to the bullish setup.

Trading recommendations:

Consider going long around 1.5250/1.5350.

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 $1000 more!
    In April we raffle $1000 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