Technical outlook and chart setups:
1. The GBP/CHF has remained unchanged yesterday, producing an indecision candlestick. At the moment the pair is trading at 1.5080 and is expected to drift lower. Recommendations are to remain short for now, risk remains at 1.5140. The pair could be expected to drift towards 1.4700 levels till ir remains below 1.5130.
2. Support is seen at 1.4900, followed by 1.4780/90, 1.4630, 1.4500 and lower while resistance is seen at 1.5120/30 respectively.
3. The structure indicates that the pair should retrace lower before rallying further. Minimum expectations on the downside could be 1.4700 levels.
Trading recommendations:
Remain short, stop at 1.5140, target is at 1.4700.
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 May 27, 2014 . Thanks for your support on Technical analysis of GBP/CHF for May 27, 2014
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