empty
 
 
29.09.2014 04:35 PM
Technical analysis of GBP/CHF for September 29, 2014
This image is no longer relevant

 Technical outlook and chart setups:

The GBP/CHF pair is seen to be stalling at fibonacci 0.382 support level (1.5430) for now. Please note that the pair is also being supported by immediate trend line and past resistance turned support around the same region as seen here. A bullish signal here, would confirm that the pair is ready to rally further into 1.5500 and 1.5800 levels subsequently. Only a break below the trend line  would delay matters further. Immediate support is 1.5300, followed by 1.52/51 and 1.4975, while resistance is at 1.5500/10 respectively. It is recommended to look to buy at current levels or lower.

Trading recommendations:

Remain flat for now, look to buy on a bullish reversal bounce here or lower around 1.5300/1.52.

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