Technical Analysis of GBP/CHF for March 11, 2016
Technical outlook and chart setups:
The GBP/CHF pair has dropped lower and is currently trading at 1.4040. The pair might have completed its correction and should be preparing to resume its rally towards the level of 1.4300. Please note that the recent drop looks to be corrective and a push towards 1.4300 would then complete the rally that had begun from the level of 1.3700 earlier. On the flip side, a drop lower towards 1.3900 would indicate that a meaningful top is in place at 1.4200. It is now recommended to remain long with risk at 1.3900. Immediate support is seen at 1.3960, while resistance is seen at 1.4300.
Trading recommendations:
Remain long now, stop is at 1.3900, a target is at 1.4300.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
