Technical outlook and chart setups:
The GBP/CHF pair dropped to the level of 1.4740 after the Fed's announcement before pulling back sharply. The pair has finally bounced off the intermediary support trend line at 1.3800. Also, the Fibonacci 0.786 support has held well until now. The pair can be expected to rally through the level of 1.5300 at least if not higher. It is hence recommended to remain long with risk at 1.4700. Immediate support is seen at 1.4700 followed by 1.4550 and lower, while resistance is seen at 1.5000 followed by 1.5150 and higher.
Trading recommendations:
Remain long with stop at 1.4700.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/CHF for December 17, 2015 . Thanks for your support.
No comments:
Post a Comment