Technical outlook and chart setups:
1. The 4H chart depicts that a short term support trend line has been broken. Our long positions have been stopped out at 1.4800, still recommendations are to go long, with risk at 1.4550.
2. Immediate resistance is at 1.5020, while supports are at 1.4700/30 (intermediary), followed by 1.4550 and 1.4350 respectively.
3. Structure reveals that a rally at least towards 1.4900 should materialize now. The possibility of a fresh high also remains.
Trade recommendations:
Go long, stop is at 1.4550, target is open.
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 Technical analysis of GBP/CHF for January 13, 2014 . Thanks for your support on Technical analysis of GBP/CHF for January 13, 2014
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