Technical outlook and chart setups:
A shorter view of 4H chart has been presented here. The structure remains unchanged for now with resistance fixed at 1.4530 level. The prices have carved out an intermediary/lower high at 1.4470, since then the pair has been trading in a range. Immediate resistance is 1.4400 for now. A break higher would enforce prices to move towards 1.45 again. As it was suggested last week, it is still recommended to remain short, looking into the overall bearish structure. 1.4530 remains key for a possible bullish reversal; till that time, prices should be heading south. Intermediary support levels are 1.4200, followed by 1.4030 and below 1.4. Remain short for now.
Trading recommendations:
Remain short for now, stop is at 1.4530, target at least 1.42 and below 1.4.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via GbpChf remains unchaged for now. 1.4200 should be minimum target lower . Thanks for your support on GbpChf remains unchaged for now. 1.4200 should be minimum target lower
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