Technical outlook and chart setups:
1. The GBP/CHF pair remains below the support trend line for now. The minimum target is seen towards 1.4400/1.4300 for now. The support turned resistance line should cap any intraday rallies towards 1.4600/1.4700. Recommendations are to remain short for now. Resistance is at 1.4700.
2. Immediate resistance is at 1.4600/1.4700 (trend line), followed by 1.4850/1.4950, while supports are spread through 1.4350, 1.4200 and lower respectively.
3. The structure reveals that GBP/CHF should be sold on rallies through 1.4650/1.4700 levels. Immediate downside target should be around 1.4350.
Trading recommendations:
Remain short for now, set stop above 1.47, 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 18, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 18, 2014
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