Technical outlook and chart setups:
As it was discussed yesterday, the aggressive trading strategy has worked out well against 1.4650 level. Intermediary support is now at 1.4690/1.4700 level, while resistance is through 1.4990, 1.5050, and 1.5150 respectively. As depicted here, a 3 wave correction is possibly underway towards 1.5050. It is recommended to buy intraday dips from here on. Intraday support begins from 1.4800 level and extends through 1.4760 level respectively. Looking higher for now.
Trading recommendations:
Hold on to long positions taken yesterday, build on longs during intraday dips, stop is at 1.4640, and target is at 1.5050 and above.
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via GbpChf bullish correction seems to be underway. Long against 1.4640 . Thanks for your support on GbpChf bullish correction seems to be underway. Long against 1.4640
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