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02.06.2014 03:05 AM
Technical analysis of GBP/CHF for June 02, 2014
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Technical outlook and chart setups

1. The GBP/CHF pair reversed from 1.5120 levels last week, remaining just shy of 1.5130/40 resistance. Minimum implications are that the pair could fall towards 1.4700/20 levels. Intraday rallies should remain well capped below 1.5130/40 levels from here on.

2. Support is seen at 1.4900, followed by 1.4780, 1.4650 and lower, while resistance is seen at 1.5140 levels respectively.

3. The structure indicates that GBP/CHF still remains fairly in control of bears till prices remain below 1.5130 levels. 1.4700 levels would remain of interest.

Trading recommendations:

Remain short, stop at 1.5140/50, target is open.

Good luck!


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