Technical outlook and chart setups:
1. As seen here, GBP/CHF has taken out resistance at 1.5000 levels recently. Yesterday's fall can be termed as corrective yet. It is recommended to remain flat for a while and allow the correction to complete.
2. Immediate temporary resistance is at 1.5020, while supports are spread through 1.4800 followed by 1.4550, 1.4350 and lower respectively.
3. The structure reveals that this correction might continue to 1.4850-1.4900 (please note this is the past resistance turned the support area). The 1.4600-1.4700 area is the best level to enter buying further.
Trading recommendations:
Remain flat for now. Shall be recommending short entries will be recommemnded soon.
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 January 10, 2014 . Thanks for your support on Technical analysis of GBP/CHF for January 10, 2014
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