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19.08.201404:40 Forex Analysis & Reviews: Technical analysis of GBP/CHF for Aug 19, 2014

Long-term review

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Technical outlook and chart setups:

1. The GBP/CHF pair remains unchanged from yesterday, after bouncing off from 1.5070 levels last week. The pair is expected to stage a counter trend rally towards at least 1.5250 levels if not higher. Recommendations are to remain flat for now and await for a lower top to be carved below 1.5350 levels to go short again.

2. Support is at 1.4950, followed by 1.4750 and lower while resistance is seen at 1.5350, followed by 1.5450 respectively.

3. The structure indicates that GBP/CHF could rally towards 1.5250 levels, before reversing again.

Trading recommendations:

Remain flat for now.

Good luck!

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