15.08.201408:47 Forex Analysis & Reviews: Technical analysis of GBP/CHF for Aug 15, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical outlook and chart setups:

1. The GBP/CHF pair has hit the first fibonacci extension at 1.5070 levels as depicted here. The pair could stage a pullback rally from the current levels. The 1.5250/1.5300 region should provide enough resistance now.

2. Support is seen at 1.4950, followed by 1.4760/70 and lower, while resistance is seen at 1.5350, followed by 1.5430/50 respectively.

3. The structure indicates that GBP/CHF counter trend rally could materialize at least up to 1.5300/50 levels.

Trading recommendations:

Exit short positions, enter long positions, stop at 1.5050, target is open.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.