Technical analysis of GBP/CHF for October 13, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is looking to drop below the 1.4600 levels now. As depicted here, the pair could extend towards 1.4300 and lower. Please note that Fibonacci 0.618 support is seen at the 1.4400 levels and a bullish bounce could be expected there as well. It is hence recommended to exit long positions for now and remain flat; aggressive trades could go short below 1.4600. Immediate support is seen at the 1.4400 levels followed by 1.4300, 1.4200 and lower, while resistance is seen at the 1.4900 levels followed by 1.4950, 1.5100 and higher.

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 daily market trends and news you may visit via Technical analysis of GBP/CHF for October 13, 2015 . Thanks for your support.