Technical analysis of GBP/CHF for November 18, 2015
November 18, 2015 8:30 am
Technical outlook and chart setups:
The GBP/CHF pair might have finally reached an intermediate high at 1.5470 reversing lower. The pair is already overdue for a corrective drop towards 1.4900 before the rally could resume further. Moreover, there is a pin-bar candlestick pattern as well on the H4 chart followed by a potential engulfing bearish underway now. The aggressive trade setup would be to go short with risk at 1.5500. A conservative way would be to remain flat now. Immediate interim resistance is seen at 1.5470, while support is seen at 1.5350.
Trading recommendations:
Aggressive: Stay short with stop at 1.5500, a target is at 1.4900
Conservative: stay flat.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
Technical outlook and chart setups:
The GBP/CHF pair might have finally reached an intermediate high at 1.5470 reversing lower. The pair is already overdue for a corrective drop towards 1.4900 before the rally could resume further. Moreover, there is a pin-bar candlestick pattern as well on the H4 chart followed by a potential engulfing bearish underway now. The aggressive trade setup would be to go short with risk at 1.5500. A conservative way would be to remain flat now. Immediate interim resistance is seen at 1.5470, while support is seen at 1.5350.
Trading recommendations:
Aggressive: Stay short with stop at 1.5500, a target is at 1.4900
Conservative: stay flat.
Good luck!
The material has been provided by InstaForex Company – www.instaforex.com
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