Technical analysis of GBP/CHF for February 19, 2014
February 19, 2014 6:20 am
Technical outlook and chart setups:
1. The GBP/CHF pair is on track to hit fresh lows in the coming week, bears seem to be in control after hitting 1.4950/60 resistance. It is recommended to remain short and also sell on intraday rallies. A meaningful top is in place at the 1.5120/30 levels, which should hold.
2. Immediate intermediary resistance is at 1.4950/60, followed by 1.5120/30, while supports are spread through 1.4550, followed by 1.4360 and lower respectively.
3. The structure indicated that GBP/CHF is heading lower towards 1.44 and 1.40 in the coming weeks. A major top has been in place at 1.5120/30, and till prices are lower, bears should continue printing lower lows.
Trading recommendations:
Remain short, stop is at 1.5130, target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
1. The GBP/CHF pair is on track to hit fresh lows in the coming week, bears seem to be in control after hitting 1.4950/60 resistance. It is recommended to remain short and also sell on intraday rallies. A meaningful top is in place at the 1.5120/30 levels, which should hold.
2. Immediate intermediary resistance is at 1.4950/60, followed by 1.5120/30, while supports are spread through 1.4550, followed by 1.4360 and lower respectively.
3. The structure indicated that GBP/CHF is heading lower towards 1.44 and 1.40 in the coming weeks. A major top has been in place at 1.5120/30, and till prices are lower, bears should continue printing lower lows.
Trading recommendations:
Remain short, stop is at 1.5130, target is open.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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