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Technical outlook and chart setups:
1. The GBP/CHF pair was seen rallying towards the 1.5050 levels yesterday. Please note that the pair is expected to face resistance at these levels and should begin its lower journey again. towards the 1.4700 levels. Recommendations are to remain short, risk remains at 1.5130/40,
2. Support is seen at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower while resistance is seen at 1.5130 respectively.
3. The structure reveals that GBP/CHF should continue drifting lower in a corrective manner through 1.4700 levels from here on.
Trading recommendations:
Remain short for now, stop at 1.5140/50, target is 1.4700.
Good luck!
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Performed by Harsh Japee, Analytical expert InstaForex Group © 2007-2014 |
Technical analysis of GBP/CHF for June 03, 2014
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