Technical outlook and chart setups:
1. The GBP/CHF pair finally follows up on the bearish evening star trading signal produced earlier on. The 1.5000 levels is about to break down, opening way towards 1.4700 levels in the sessions to come. Recommendations are to remain short for now, risk remains at 1.5140.
2. Support is seen at 1.4900, followed by 1.4780, 1.4650, 1.4550 and lower, while resistance is seen at 1.515120/30 respectively.
3. The structure indicates that GBP/CHF has begun retracement towards 1.4700 levels. Please note that this fall could be just a retracement before the next rally begins.
Trading recommendations:
Remain short, stop at 1.5120/30.
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 29, 2014 . Thanks for your support on Technical analysis of GBP/CHF for May 29, 2014
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