Technical outlook and chart setups:
1. The GBP/CHF pair is expected to correct till 1.5080/1.5100 levels before rallying further. Please note that past resistance turned support, trend line and fibonacci 0.618 support are all seen converging around the same region.
2. Support is seen at 1.4960, followed by 1.4780, 1.4650 and lower while resistance is seen at 1.5300 levels.
3. The structure indicates that GBP/CHF shall remain in the buy zone until 1.4980 levels remain intact.
Trading recommendations:
Go long around 1.5100, stop at 1.4900, 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 June 24, 2014 . Thanks for your support on Technical analysis of GBP/CHF for June 24, 2014
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