Technical outlook and chart setups:
1. The GBP/CHF pair produced a potential top and reversal candle after printing fresh highs at 1.5350 levels on Friday. The pair could continue to print higher highs until price remains above 1.5140 levels. A pullback towards 1.5250/1.5200 could be potential level to enter long positions.
2. Support is at 1.5140, followed by 1.4950, 1.4780 and lower, while resistance is at 1.5350 for now.
3. The structure indicates that GBP/CHF remains in control of bulls until price remains above 1.5140 levels. Only a break below could be a concern.
Trading recommendations:
Buy on dips.
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 July 07, 2014 . Thanks for your support on Technical analysis of GBP/CHF for July 07, 2014
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