17.02.201514:50 Forex Analysis & Reviews: Technical analysis of GBP/CHF for February 17, 2015

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 seems to be running out of steam at the handle of 1.4370/80 since it has backed off twice, as seen here on the hourly chart view. It is recommended to exit long positions at current market price around the levels of 1.4300 and either remain flat or initiate short positions (aggressive trade setup) with risk above the levels of 1.4415. A drop below 1.4275 levels would be the first indication of a deeper correction lower and a break below the levels of 1.4200 (trend line) support would confirm the same. Immediate support is seen at 1.4275 followed by 1.4100, 1.4000 and lower, while resistance is seen at the handle of 1.4400 and higher, respectively. Bears could be poised to regain control for the time being.

Trading recommendations:

Exit long positions. Aggressive traders could initiate 50% short positions. Stop is at 1.4420, target is open.

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.