empty
 
 
01.01.2015 08:18 AM
Technical analysis of GBP/CHF for January 01,2015

This image is no longer relevant

Technical outlook and chart setups:

The GBP/CHF pair has rallied through 1.5500 levels as discussed and expected earlier. Please note that the pair's value could come in at 1.5620 levels before a meaningful retracement can be expected. Immediate support is seen at 1.5320/25, followed by 1.5250, 1.5000 and lower while resistance is seen at 1.5550/60 levels respectively. It is safe to hold long positions taken earlier. Risk remains at 1.5300 levels for now. Looking into the 4H structure depicted here, the bulls are poised to push prices through 1.5520 and subsequently through 1.5620 levels. Only a break below 1.5300 levels would delay matters further.

Trading recommendations:

Remain long, lock in profits at 1.5300, target 1.5520 and 1.5620.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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