Technical outlook and chart setups:
1. The GBP/CHF pair is heading down towards 1.44 and 1.4350 levels for now. Please note that pullbacks towards 1.4600/50 should be used as opportunity to again initiate short positions. It is recommended to hold short positions for now.
2. immediate resistance is at 1.4850/1.4950/60, followed by 1.5120/30, while supports are spread through 1.4350, followed by 1.4200 and lower respectively.
3. The structure reveals that GBP/CHF should be heading lower towards 1.44, 1.43 and 1.42 levels respectively. Any pullbacks should be capped below 1.4600/1.4700.
Trading recommendations:
Remain short for now, stop is at 1.4700, target 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 17, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 17, 2014
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