Technical outlook and chart setups:
1. The single currency pair has been stalled at the 0.786 retracement/resistance of the down swing from 1.4900 to 1.4350 recently. It is still recommended to remain short and also plan to add more around the current price 1.4850/60.
2. Immediate resistance is at the 1.4900/50 level, while supports are spread through 1.4600 followed by 1.4350, 1.4200, and 1.4050, respectively. A push through 1.4650 would accelerate down side.
3. The structure reveals that GBP/CHF should continue drifting lower towards the 1.4200 and 1.4000 levels, respectively. The 1.4950 level should remain intact though.
Trade recommendations:
Remain short, stop is at 1.4950, target is 1.4000
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 06, 2014 . Thanks for your support on Technical analysis of GBP/CHF for January 06, 2014
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