Technical analysis of GBP/CHF for January 27, 2016
February 19, 2016 7:20 am
Technical outlook and chart setups:
The GBP/CHF pair is trading near the levels of 1.4210/12 at this moment, looking for an opportunity to push higher towards 1.4450 and 1.4550. Please note that the pair had broken out of the resistance trend line earlier, and also hit interim lows of 1.4040 levels earlier. Also note that the level of 1.4040 was formed at resistance-turned-support trend line as seen here. The pair is moving slowly but surely higher since then and bulls are expected to remain in control until the pair stays above 1.4040. It is recommended to remain long, and move risks to 1.4000. Immediate interim support is seen at 1.4040, while resistance is seen at 1.4450.
Trading recommendations:
Remain long, stop is at 1.4000, a target is at 1.4450/60 and 1.4560/70.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
The GBP/CHF pair is trading near the levels of 1.4210/12 at this moment, looking for an opportunity to push higher towards 1.4450 and 1.4550. Please note that the pair had broken out of the resistance trend line earlier, and also hit interim lows of 1.4040 levels earlier. Also note that the level of 1.4040 was formed at resistance-turned-support trend line as seen here. The pair is moving slowly but surely higher since then and bulls are expected to remain in control until the pair stays above 1.4040. It is recommended to remain long, and move risks to 1.4000. Immediate interim support is seen at 1.4040, while resistance is seen at 1.4450.
Trading recommendations:
Remain long, stop is at 1.4000, a target is at 1.4450/60 and 1.4560/70.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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