Technical analysis of GBP/CHF for December 2, 2016
December 2, 2016 12:44 pm
GBP/CHF found strong support at 50-Moving Average that it has been rejecting for a number of times. It looks very much like an uptrend will continue at least to test 0% Fibs applied to the ascending channel breakout.
Consider buying GBP/CHF on small pullbacks to target 0% Fibs (1.2908). Suggested stop loss is below 50-Moving Average. If it manages to break above the 0% Fibs target, price might go much further up.
Support: 1.2670
Resistance: 1.2908
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
GBP/CHF found strong support at 50-Moving Average that it has been rejecting for a number of times. It looks very much like an uptrend will continue at least to test 0% Fibs applied to the ascending channel breakout.
Consider buying GBP/CHF on small pullbacks to target 0% Fibs (1.2908). Suggested stop loss is below 50-Moving Average. If it manages to break above the 0% Fibs target, price might go much further up.
Support: 1.2670
Resistance: 1.2908
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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