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19.07.201608:18 Forex Analysis & Reviews: GBPCHF Technical Analysis for July 19, 2016.

Long-term review

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Technical outlook and chart setups:

GBP/CHF is seen to be trading at 1.3000/10 levels at this moment, looking to push higher towards 1.3200/3300 levels at least before producing a meaningful retracement lower. The wave structure indicates that the pair might be into wave 5 within the impulse wave. If this wave count holds true, we can expect a rally from here and bulls would want to remain in control till prices stay above 1.2880 levels. Please also note that bulls should be poised to take out resistance lined up at 1.3250 levels. It is hence recommended to remain long now, with risk around 1.4800 levels. Immediate support is seen at 1.2880/1.2900 levels, while resistance is seen at 1.3200 respectively. Looking higher at least for now.

Trading recommendations:

Remain long, stop at 1.2800, target 1.3200/1.3300.

Good luck!

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