Technical outlook and chart setups:
1. The GBP/CHf pair is still struggling ahead of the 1.4850 resistance for now. A bearish reversal is possible from current level which could still drag prices towards 1.4450 levels. It is recommended to remain short for now, risk remains at 1.4850/60.
2. Support is at 1.4650, followed by 1.4450, 1.4350 and lower, while resistance is at 1.4850/60, followed by 1.4950 and 1.5120 respectively.
3. The structure indicates that till GBP/CHF is below the 1.4850 levels, bears could take back control and continue moving lower towards the swing lows of 1.4450 and further.
Trading recommendations:
Remain short, set stop at 1.4850, target is 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 April 10, 2014 . Thanks for your support on Technical analysis of GBP/CHF for April 10, 2014
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