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Technical outlook and chart setups:
1. The GBP/CHF pair has remained virtually unchanged since last few trading sessions. The pair is stalling around 1.5360/70 mark for now having broken the immediate line of support, as seen here. Recommendations are to remain short, risk remains above 1.5430/50 levels.
2. Support is seen at 1.5220, followed by 1.5150 and lower while resistance is seen at 1.5380/90 (interim), followed by 1.5430/50 respectively.
3. The structure indicates that GBP/CHF should be correcting lower at least for now.
Trading recommendations:
Remain short, stop above 1.5450, target is open.
Good luck!
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Performed by Harsh Japee, Analytical expert InstaForex Group © 2007-2014 |
Technical analysis of GBP/CHF for July 30, 2014
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