24.11.201509:22 Forex Analysis & Reviews: Technical analysis of GBP/CHF for November 24, 2015

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:

The GBP/CHF pair seems to be reversing from the level of 1.5430 just ahead of the fibonacci 0.382 support seen at the territory around 1.5360. Please note that the pair has reached a low at 1.5380 today and reversed higher. It is recommended to initiate around 50% of long positions now, and the remaining around 1.5360 if prices manage to reach there. Immediate support is seen at 1.5250 followed by 1.5000 and lower while resistance is seen at 1.5570 and higher. Please also note that the trend-line support is passing closely, hence bulls can remain in control until prices hold the trend-line support.

Trading recommendations:

Initiate 50% long positions remaining at 1.5350, stop is at 1.5250, a 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.