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Technical outlook and chart setups:
The GBP/CHF pair is seen to be stalling at fibonacci 0.382 support level (1.5430) for now. Please note that the pair is also being supported by immediate trend line and past resistance turned support around the same region as seen here. A bullish signal here, would confirm that the pair is ready to rally further into 1.5500 and 1.5800 levels subsequently. Only a break below the trend line would delay matters further. Immediate support is 1.5300, followed by 1.52/51 and 1.4975, while resistance is at 1.5500/10 respectively. It is recommended to look to buy at current levels or lower.
Trading recommendations:
Remain flat for now, look to buy on a bullish reversal bounce here or lower around 1.5300/1.52.
Good luck!
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Performed by Harsh Japee, Analytical expert InstaForex Group © 2007-2014 |
Technical analysis of GBP/CHF for September 29, 2014
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