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FX.co ★ Technical analysis of GBP/CHF for February 27, 2015

Technical analysis of GBP/CHF for February 27, 2015

Technical analysis of GBP/CHF for February 27, 2015

 Technical outlook and chart setups:

The GBP/CHF pair inched higher towards 1.4750/60 levels before pulling back into the 1.4600's as seen here on the hourly chart. It is recommended to exit short positions take yesterday and remain flat for now. The pair is expected to be supported at 1.4630 levels, also the trend line support is passing through the same region. Immediate candlestick support is seen at 1.4630 levels, followed by 1.4400, 1.4270/80 and lower while resistance is seen at 1.4750 (interim), and higher. Please also note that a break of the immediate short term uptrend line should be encouraging to a further bearish setup and prices could continue correcting lower.

Trading recommendations:

Exit short positions and remain flat for now.

Good luck!


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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