empty
 
 
11.12.2015 02:31 PM
Technical analysis of GBP/CHF for December 11, 2015

This image is no longer relevant

Technical outlook and chart setups:

The wave structure for GBP/CHF still remains intact and poised to unfold into higher highs and higher lows in coming weeks. The pair still holds its Fibonacci 0.618 support around the level of 1.4930 looking for an opportunity to begin its 5-wave rally towards 1.6000 soon. Hence it is still recommended to hold the long positions taken earlier with risk at 1.4800. Immediate support is seen around 1.4800 followed by 1.4700 and lower, while resistance is seen at 1.5150 followed by 1.5320 and higher. Bulls should remain poised to take control from current levels.

Trading recommendations:

Now remain long with stop at 1.4800, a target is open.

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