Technical outlook and chart setups:
1. The GBP/CHF pair seems to be testing the lows ahead of 1.4600 levels at the moment. A reversal here would indicate that the next move is higher. It is recommended to hold long positions for now, risk remains at 1.4600.
2. Immediate resistance is at 1.4950/60 followed by 1.5120/30, while supports are spread through 1.4550 followed by 1.4350, 1.4200 and lower, respectively.
3. The structure reveals that a push below 1.4600 would confirm that bears are in control and prices are headed lower towards 1.44 and 1.42. On the other hand, a reversal here would want to re-test 1.5120/30 at least.
Trading recommendations:
Remain long for now, stop at 1.4600, target open.
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 10, 2014 . Thanks for your support on Technical analysis of GBP/CHF for March 10, 2014
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