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28.05.201408:13 Forex Analysis & Reviews: Technical analysis of GBP/CHF for May 28, 2014

Long-term review

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Technical outlook and chart setups:

1. The GBP/CHF pair is seen to be stalling ahead of resistance at 1.5120/30 levels. Please note that the pair had produced a bearish evening star candlestick signal earlier, hence indications are for downside for now till prices stay below 1.5130 levels. Recommendations are to remain short, risk remains at 1.5140/50.

2. Support is seen at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower while resistance is seen at 1.5120/30 respectively.

3. The structure indicates that GBP/CHF should retrace lower towards atleast 1.4700 levels before staging rally further ahead.

Trading recommendations:

Remain short for now, stop at 1.5120/30, target is open .

Good luck!

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