1. The GBP/CHF pair is trading above the resistance line as seen here (1.4780 levels). As shown here, the bulls need to push higher and break at least 1.4850/60 levels to confirm a potential reversal setup. It could be then planned to buy on dips. Recommendations for now is to remain flat and watch out for a reaction at 1.4850/60 resistance.
2. Immediate resistance is at 1.4850/60, followed by 1.4960 and 1.5120, while support is at 1.4660, followed by 1.4460 , 1.4350 and lower respectively.
3. The structure indicates that GBP/CHF bulls need to take out at least 1.4850 to remain in control. Trading strategy could be buy on dips thereafter. On the flip side a reversal here, could bring back bears in picture again.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
1. The GBP/CHF pair is trading above the resistance line as seen here (1.4780 levels). As shown here, the bulls need to push higher and break at least 1.4850/60 levels to confirm a potential reversal setup. It could be then planned to buy on dips. Recommendations for now is to remain flat and watch out for a reaction at 1.4850/60 resistance.
2. Immediate resistance is at 1.4850/60, followed by 1.4960 and 1.5120, while support is at 1.4660, followed by 1.4460 , 1.4350 and lower respectively.
3. The structure indicates that GBP/CHF bulls need to take out at least 1.4850 to remain in control. Trading strategy could be buy on dips thereafter. On the flip side a reversal here, could bring back bears in picture again.
Trading recommendations:
Remain flat for now.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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