Technical outlook and chart setups:
1. The GBP/CHF pair is drifting lower towards 1.4350 levels now. Please note that a any bullish bounce here should remain well capped below the 1.4650/1.4700 level. It is recommended to remain short for now, risk remains at 1.4700.
2. Immediate resistance is at 1.4850/60, followed by 1.4950/60 and 1.5120/30 on the higher side, while supports are spread through 1.4350, followed by 1.4200 and 1.4000 respectively.
3. The structure reveals that GBP/CHF should continue drifting lower at least till 1.4350 for now. A meaningful pullback can be expected after that.
Trading recommendations:
Remain short, set stop at 1.4650, target 1 is at 1.4350.
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 14, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 14, 2014
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