empty
 
 
02.02.2015 01:59 PM
Technical analysis of GBP/CHF for February 02, 2015
This image is no longer relevant

Technical outlook and chart setups:

The GBP/CHF pair hit 1.4072 today before pulling back sharply towards 1.3950. The pair is seen to be trading at 1.3980/90 for now and it is still expected to hit the levels of 1.4100 soon. One can remain long with risk below the levels of 1.3800 for now. The pair has been steadily making higher highs and higher lows since it broke above 1.3350/1.3400 resistance earlier. Please also note that 1.4100 is Fibonacci 0.618 resistance and the pair could start drifting lower from there, towards the larger downtrend. Immediate support is seen at the levels of 1.3800 followed by 1.3640, 1.3470, 1.3400 and lower while resistance is seen at 1.4100 and higher, respectively.

Trading recommendations:

Remain long; stop is below 1.3800, target is at 1.4100.

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