21.03.201313:58 Forex Analysis & Reviews: GbpChf attempting hit 1.4411 before reversal

Long-term review

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Technical outlook and chart setups:

As depicted on the 4H chart view here, the structure remains more or less similar to what we have been discussing since last few trading sessions. Prices are staging a rally towards our projected resistance at 1.4411. Please note that this level is re-enforced by Gartley convergence. Major trend defining resistance is just above the 1.4500 mark and we would be looking to go long if it breaks. Until then, it is recommended to remain short and also add further positions at 1.4411 level. The entire wave structure looks to be a down swing ABCD formation with A= 1.45, B=1.4, C=1.4411 (awaiting), D is projected down towards 1.3750 levels. Looking lower from 1.4411 level.

Trading recommendations:

Remain short, stop is above 1.4550, and target is at 1.3750 and lower.

Good Luck!

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