Technical outlook and chart setups:
1. The currency pair has stopped us out at 1.4950 in the past session. As seen in the weekly chart here, a former resistance at 1.5000 has also been broken. It is recommended to remain flat for now. The 1.5150 level is into focus now.
2. The next resistance is at the 1.5150 level, while support is just below 1.4900, followed by 1.4800 and lower.
3. The structure reveals that GBP/CHF is on its way towards at least 1.5150 for now. A bearish reaction there could possibly reverse the trend.
Trading recommendations:
Flat for now.
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 09, 2014 . Thanks for your support on Technical analysis Of GBP/CHF for January 09, 2014
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