empty
 
 
29.04.2014 08:38 AM
Technical analysis of GBP/CHF for April 29, 2014
This image is no longer relevant

Technical outlook and chart setups:

1. The GBP/CHF pair trades around the 1.4780/1.4800 levels for now. It is still expected to fall lower towards 1.4730/50 levels where trend line and fibonacci 0.618 support is available. A bullish bounce from those levels should be bought for a higher extension towards 1.4950 and above. Recommendations for now is to remain flat.

2. Support is at 1.4630/50, followed by 1.4550, 1.4450, 1.4350 and lower, while resistance is spread through 1.4950 and 1.5120 respectively.

3. The structure indicates that GBP/CHF could possibly correct towards 1.4730 levels before resuming rally higher. On the flip side, a break of 1.4700 and trend line would prove to be extremely bearish though.

Trading recommendations:

Remain flat for now. Looking to buy from lower levels.

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 $1000 more!
    In April we raffle $1000 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