For Traders

Analytical Reviews

Technical analysis

19.09.201411:27 Forex Analysis & Reviews: Technical analysis of GBP/CHF for September 19, 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:

The GBP/CHF pair has broken put of resistance levels at 1.5350 today and fresh highs been registered at 1.5450, triggering stops. As seen on the daily chart view here, the pair has bounced off the fibonacci 0.382 support levels (1.4975) of the rally between 1.4450 and 1.5430. Immediate support is now at 1.4975, followed by 1.4760/70 and lower. The pair could extend the rally into the 1.56/57 levels in coming sessions. It is recommended considering intraday dips towards 1.5150/5200 levels as opportunities to go long, as bulls should now remain in control till prices remain above 1.4970/80. Only a break below 1.4975 should be of any concern to the bullish setup.

Trading recommendations:

Consider going long around 1.5250/1.5350.

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.