Technical outlook and chart setups:
The GBP/CHF pair is trading around 1.4673 at the moment, around the fibonacci 50% resistance as depicted here. The pair could be pushed higher towards 1.4780/1.4800 levels which are the fibonacci 0.618. It is recommended to book partial profits from long positions taken yesterday and also move stop to break even levels so that there is no risk. Immediate support is seen at 1.4500 followed by 1.4200, 1.4100, and lower, while resistance is seen at 1.4800/30, followed by 1.4900 and higher respectively.
Trading recommendations:
Book partial profits in long positions taken yesterday. Bring stop to break even levels, target 1.4800.
Good luck!
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Performed by Harsh Japee, Analytical expert InstaForex Group © 2007-2015 |
Technical analysis of GBP/CHF for April 29, 2015
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