Technical Analysis of GBP/CHF for March 10, 2016
Technical outlook and chart setups:
The GBP/CHF pair is pushing higher towards 1.4300 levels it seems. The pair is out of the ending diagonal as depicted here and could be setting up for a deeper corrective rally towards 1.4850/1.4900 levels, going ahead. The pair seems to be preparing to immediately take out 1.4300 resistance (marked as D), before pulling back lower. It is recommended to remain flat for now and wait for a corrective pullback lower, before getting long again. Immediate resistance is seen at 1.4300 levels while support is at 1.4058 levels respectively. Bulls should remain poised to remain in control till prices stay above 1.3700 levels broadly.
Trading recommendations:
Remain flat for now, and wait for a corrective drop to go long.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
