GBPCHF is consolidating. 1.44 Levels Remain best buy
October 15, 2013 6:15 am
Technical outlook and chart setups:
The currency pair seems to be consolidating at the moment, before the next rally upwards. As depicted here, 1.44 remains the best buy as the 0.618 fibonacci support and trendline convergences are seen there. It is recommended to hold long positions taken earlier for now. Intermediary resistance is seen at the 1.48 levels, followed by strong resistance at 1.5, while support begins from 1.42, followed by 1.4 respectively. The chart structure indicates that a rally towards the 1.49 levels remain possible till prices are above 1.42. Furthermore, the best buy remains at the 1.44 levels as seen here.
Trading recommendations:
Remain long, buy more at 1.44, stop below 1.43.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
The currency pair seems to be consolidating at the moment, before the next rally upwards. As depicted here, 1.44 remains the best buy as the 0.618 fibonacci support and trendline convergences are seen there. It is recommended to hold long positions taken earlier for now. Intermediary resistance is seen at the 1.48 levels, followed by strong resistance at 1.5, while support begins from 1.42, followed by 1.4 respectively. The chart structure indicates that a rally towards the 1.49 levels remain possible till prices are above 1.42. Furthermore, the best buy remains at the 1.44 levels as seen here.
Trading recommendations:
Remain long, buy more at 1.44, stop below 1.43.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: