empty
 
 
15.10.2015 02:01 PM
Technical analysis of GBP/CHF for October 15, 2015

This image is no longer relevant

Technical outlook and chart setups:

The GBP/CHF pair is approaching its Fibonacci 0.618 resistance of the drop from the 1.4900/50 to 1.4550/60 levels. Besides, the 50-day moving average seems to be passing through the 1.4750 levels, which could provide resistance. The pair should remain in control of bears until prices stay below the 1.4950 levels at least. It is hence recommended to remain flat for now and look to short around the 1.4775 levels with risk at 1.4950. Immediate support is seen at 1.4550 (interim), followed by 1.4400 and lower, while resistance is seen at the 1.4800 levels (interim), followed by the 1.4900/50 levels and higher.

Trading recommendations:

Remain flat for now and look to go short around 1.4775.

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