GBPCHF Technical Analysis for August 26, 2016.
August 26, 2016 6:04 amVideo
Latest News
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
Technical outlook and chart setups:
The GBPCHF is stalling at
1.2750/60 levels at this moment, after having reversed lower from 1.2840 levels
yesterday. Please note that the pair is still testing the resistance trend line
and a push higher from here could open doors for 1.2880 and higher levels. The
wave structure reveals that the rally from 1.2450 levels is corrective till now
but a push above 1.2840 levels could complete an impulse, indicating a
meaningful bottom formation at 1.2450 levels. If this wave count holds true,
the next move should be higher from here, till prices stay above 1.2650 levels.
It is hence recommended to exit short now and turn long with risk below 1.2650
levels.. The pair should remain in
control of bulls till prices stay above 1.2650 levels going forward. Immediate
resistance is seen at 1.2850 levels, while support is at 1.2450 levels
respectively.
Trading recommendations:
Exit short positions. Long now,
stop below 1.2650 levels, target 1.2880 and higher.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: