Technical Outlook and Chart Setups:
As depicted above, the single currency pair is trading sideways for now; the trading range is 1.4950-1.5050. Structurally, 1.5150/60 is intermediary resistance now and till the time prices remain below, they are headed lower. Intermediary support is around the 1.4800 region, while strong support will be provided by 1.4700. It is recommended to go short on rallies through 1.5050-1.5100. 1.5150/60 is key for bears to remain in control. Looking lower for now.
Trading Recommendations:
Selling rallies towards 1.51 should be favored. Stop at 1.5150/60, and target at 1.4600.
Good Luck!
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via GbpChf Trading Sideways For Now. 1.5150/60 Intermediary Resistance . Thanks for your support on GbpChf Trading Sideways For Now. 1.5150/60 Intermediary Resistance
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