For Traders

Analytical Reviews

Technical analysis

04.08.201502:43 Forex Analysis & Reviews: Technical analysis of GBP/CHF for August 04, 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 for an opportunity to test interim resistance at the levels of 1.5140/50 again before reversing lower. Please note that the pair had produced an engulfing bearish candlestick around 1.5140 earlier, indicating a potential reversal/correction lower. The 3rd wave of correction could be extending towards 1.4750. It is recommended to remain short now with risk at 1.5230/40. Immediate interim support is seen at the level of 1.4950 followed by 1.4750 and lower, while resistance is seen at 1.5180/1.5200 and higher respectively.

Trading recommendations:

Remain short for now, stop is at 1.5230, a target is 1.4750.

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.