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02.11.2015 09:21 AM
Technical analysis of GBP/CHF for November 02, 2015

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Technical outlook and chart setups:

The GBP/CHF pair has made yet another high at 1.5250 levels, taking out stops at 1.5230 levels on the short positions. The pair seems to be overdue for a correction lower, but not yet materialized. Please note that the next major resistance is seen at 1.5350 levels and the pair could be targeting the same before producing a meaningful correction. It is therefore recommended to remain flat for now and wait for a correction lower to initiate fresh long positions. Immediate support is seen at 1.5100 levels, followed by 1.5000, 1.4950 and lower, while resistance is seen at 1.5350 levels, followed by 1.5400/10 and higher respectively.

Trading recommendations:

Remain flat for now.

Good luck!

Summary
Urgency
Analytic
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