Trading Conditions
Products
Tools
Technical outlook and chart setups:
The GBP/CHF had pulled back from 1.5450 levels earlier, which is also marked by fibonacci 0.786 resistance as seen here. The pair is now expected to continue drifting lower till prices remain below 1.5450 levels. Resistance is seen at 1.5475, followed by 1.5550/5, while support is seen at 1.5200, followed by 1.5125, 1.4975 and lower respectively. It is recommended to remain short for now, risk remains above 1.5550. Bears are expected to remain in control for now, till prices remain below 1.5450 levels. On the flip side, a push above 1.5450/75 levels would delay matters further.
Trading recommendations:
Remain short, set stop above 1.5550, target is open.
Good luck!
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.