empty
 
 
10.12.2013 12:03 PM
GBPCHF to rally towards 1.4800

This image is no longer relevant

Technical outlook and chart setups:

The currency pair is off the lows around the 1.4550 levels, and it is trading comfortably above 1.46 at the moment. It is recommended to remain long with positions taken yesterday. Lined up support levels are 1.4350, followed by 1.4200 and lower; while resistance levels are from 1.4780/1.4800 levels, followed by 1.4900 levels respectively. The wave structure reveals that the current counter trend rally should extend till at least 1.4800 levels and then reverse lower towards 1.4200 in the coming trading sessions. A more conservative trade strategy would be to initiate short positions at 1.4800 levels.

Trading recommendations:

Remain long, set stop at 1.4500

Good luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback