Technical outlook and chart setups:
1. The GBP/CHF pair remains unchanged structurally. The back side of support trendline is providing enough resistance in the 1.4650/1,4700 zone for now. Prices should drop lower to at least 1.4350 as immediate target before producing any further meaningful pullbacks. It is recommended to remain short for now, risk remains at 1.47.
2. Immediate resistance is at 1.4650/1.4700 (trendline), followed by 1.4850/60, 1.4850 and 1.5120, while supports are spread through 1.4360/70, followed by 1.4200 and lower respectively.
3. The structure reveals that GBP/CHF should be heading south till prices remain in the sell zone and below 1.4700. Minimum expectation is 1.4350 for now.
Trading recommendations:
Remain short for now, stop is at 1.4700, target is at 1.4350.
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 March 25, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 25, 2014
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