Technical outlook and chart setups:
As seen here the prices have been trading sideways since last few sessions around 1.48, which is immediate resistance and it is quite possible that an intermediary top has been formed. At the same time, the line of support is very much intact for now, and would be providing support at 1.4620/30 if prices fall. It is recommended to hold the long positions taken earlier, for a possible push through 1.48. Major resistance is seen at 1.5 level; while support is just below 1.4600, followed by 1.45, 1.44, and lower. Till the time the prices are above the line of support and 1.46 level, we are looking further up from current levels.
Trading recommendations:
Remain long, stop is below 1.4580, and target is at 1.49 at least.
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 GbpChf trading sideways just above trendline. Support just below 1.46 . Thanks for your support on GbpChf trading sideways just above trendline. Support just below 1.46
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