Technical outlook and chart setups:
1. The GBP/CHF pair is again testing 1.4700 levels. It is recommended to remain long for now, risk remains at 1.4600 levels. A successful test of lows here would confirm that the next leg is higher up.
2. Immediate resistance is at 1.4950/60 (intermediary), followed by 1.5120/30, while supports are spread through 1.47/1.46 region, followed by 1.4550, 1.4350 and lower respectively.
3. The structure indicates that till prices are above 1.46/1.47 region, bulls shall regain control back and drag prices higher towards 1.5120/30.
Trading recommendations:
Remain long for now, stop is at 1.4600, target is open.
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 07, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 07, 2014
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