Technical outlook and chart setups:
1. The GBP/CHF pair is trading at 1.5120 levels for now and it is expected to rally at least towards the 1.5250 levels, if not higher. The pair could form a lower top below 1.5350 and turn lower again.
2. Support is seen at 1,4950, followed by 1.4760/70 and lower, while resistance is seen at 1.5350, followed by 1.5450 respectively.
3. The structure indicates that GBP/CHF should rally in a corrective mode towards 1.5250 levels at least.
Trading recommendations:
Remain long, stop below 1.5050, target 1.5250.
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 Aug 22, 2014 . Thanks for your support on Technical analysis of GBP/CHF for Aug 22, 2014
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