Technical outlook and chart setups:
1. The GBP/CHF pair has again come under pressure towards the 1.4700 mark taking out out on long positions. Bears might be setting up for a downside extension of 1.4400 and 1.4200 respectively. Aggressive trade setup could be to sell intraday rallies.
2. Immediate resistance is at 1.4950/60(intermediary), followed by 1.5120/30, while supports are spread through 1.4550, followed by 1.4350, 1.4200 and lower respectively.
3. The structure indicates that the pair should remain in control of bears till it is below 1.4950/60. Downside extensions are pointing towards 1.4400 and 1.4200 at least.
Trading recommendations:
Sell on rallies towards 1.4950/60.
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 March 04, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 04, 2014
No comments:
Post a Comment