Forex Analysis: 2012-04-25 12:37:52 UTC+00 2 years, 6 months, 1 week, 6 hours, 43 min. ago
GBP/CHF Setting Up a Pullback at least to 1.4550 - Technical Analysis and Trading Recommendations

Technical Outlook:

1.4790 - resistance is a bit too strong to break, and we are not surprised. Furthermore, the structure on Weekly Charts indicates a dropping trendline (shown in light colour below), which is passing right through the current price movement. If this trendline holds, GBP/CHF bears are set to regain control. A drop towards 1.4550-1.4600 is possible from here on. On the other hand, a break of 1.4790 (less probable though), will structurally shift the trend.

 


Show full picture

 

Chart Setups:

The above chart positioning indicates a pullback at least towards 1.4550-1.4600 in the coming sessions. 1.4790 is holding as strong resistance since long now, and a break there will bring in a shift in trend. As for now, we are counting on bears to regain control back towards the channel support.

Trading Recommendations:

Holding short positions from 1,4520/40 with stop at 1.4790.

 

Best Regards,

Performed by
analytical expert: Harsh Japee
InstaForex Group © 2007-2014
 Published: 2012-04-25 12:37:52 UTC+00 2 years, 6 months, 1 week, 6 hours, 43 min. ago

 
Recommend: Forex Analytics
 
Technical analysis of EUR/USD for October 31, 2014
2014-10-31 09:06:00 UTC+00 22 hours, 15 min. ago  
Views today 715
Technical analysis of EUR/JPY for October 31, 2014
2014-10-31 07:49:26 UTC+00 23 hours, 31 min. ago  
Views today 694
Technical analysis of USD/CAD for October 31, 2014
2014-10-31 08:41:53 UTC+00 22 hours, 39 min. ago  
Views today 760
Technical analysis of EUR/USD for October 31, 2014
2014-10-31 04:02:59 UTC+00 1 day, 3 hours, 18 min. ago  
Views today 653
Technical analysis of EUR/JPY for October 31, 2014
2014-10-31 08:32:42 UTC+00 22 hours, 48 min. ago  
Views today 694