Technical outlook and chart setups:
1. The GBP/CHF pair is moving exactly as per expectations at the moment. The pair has reversed from 1.4650 levels for now. This region is the support turned resistance as seen here. It is recommended to remain short for now, risk remains at 1.4700.
2. Immediate resistance is seen at 1.4700/1.4850(intermediary), followed by 1.4950/60 and 1.5120/30, while supports are spread through 1.4350, 1.4200, and lower respectively.
3. The structure reveals that1.4650 should hold for now. The bears are poised to push prices lower towards 1.4350 atleast.
Trading recommendations:
Remain short, move stop to 1.4690, 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 21, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 21, 2014
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