The pair has been in an uptrend from 1.4475 levels. It has been struggling to cross the 1.5122 levels. The 200-week EMA and the previous swing high paused the rally at 1.5115. If the pair crosses the last week’s high at 1.5115, it will face rough road between 1.5122- 1.5190 levels. On the down side, the pair has strong support at 1.49, 1.4880 levels. The pair made a lower low and lower high as of now.
In yesterday’s session, the pair took support at 1.4976 levels (21-day EMA) and made a high at 1.5018, as of now in today’s Asia’s session the pair is unable to cross yesterday’s high and it made a double top at 1.5018 levels. Safe buyers can buy above 1.5018 for 1.5030, 1.5054 and 1.5084 levels. Sell below 1.4976 for 1.4946, 1.49 and 1.4852 levels. The selling pressure will increase below 1.4980.
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Performed by Joseph Wind, Analytical expert InstaForex Group © 2007-2014 |
Technical analysis of GBP/CHF for May 30, 2014
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