Technical outlook and chart setups:
1. The single currency pair is testing the backside of the broken line of support at 1.4800/50. At the moment it is recommended to remain short with risk at 1.4950.
2. Resistance is at 1.4950, while support is at 1.4550 (intermediary) followed by 1.4350, 1.4200, and 1.4000, respectively.
3. The entire structure reveals that a huge down swing should begin towards atleast 1.4000 in the coming weeks. 1.4950 should remain intact for now.
Trade recommendations:
Remain short, stop at 1.4950, target 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 Technical analysis of GBP/CHF for January 07, 2014 . Thanks for your support on Technical analysis of GBP/CHF for January 07, 2014
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