Technical outlook and chart setups:
1. The GBP/CHF is testing/probing resistance line at 1.4740/50 as seen here. A bullish break would enable prices to push higher towards 1.4850/60 and even higher. It is recommended to remain flat and watch out for a reaction on the trend line before committing a position.
2. The immediate resistance is at 1.4850/60, followed by 1.4950/60 and 1.5120 while supports are spread through 1.4470 (intermediary) followed by 1.4350 and lower respectively.
3. The structure indicates that bulls would regain control back on a break of the resistance line above 1.4750. Stay away for now.
Trading recommendations:
Remain flat for now.
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 28, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 28, 2014
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