For Traders

Analytical Reviews

Technical analysis

21.04.201413:18 Forex Analysis & Reviews: Technical analysis on GBP/CHF for April 21, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical outlook and chart setups:

1. The GBP/CHF pair is just stalling ahead of 1.4850 levels for now. Implication from here is a dip into 1.4650/00 or 1.4700 before the next rally resumes. It is recommended to buy on dips for now. If 1.4850/60 level is taken out first, the retracement shall be more meaningful.

2. Support is at 1.4650, followed by 1.4450, 1.4350 and lower while resistance is a 1.4850, followed by 1.4950/60 and 1.5120 respectively.

3. The structure indicated that GBP/CHF bulls remain in control for now. Fresh long positions can be taken on dips.

Trading recommendations:

Remain flat for now. Buy on dips.

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.