Technical Analysis of GBP/CHF for March 14, 2016
Technical outlook and chart setups:
The GBP/CHF pair is trading higher at the levels of 1.4140/50 this moment. The pair is looking for an opportunity to push higher as expected and discussed earlier, towards at least 1.4300. Bulls are expected to remain in control now, and prices should stay above 1.4000. Please note that the pair had bounced off Fibonacci 0.50% support at 1.4000/20 as seen here. It is recommended to remain long for now with risk at 1.3900. Immediate support is seen at 1.4000, while resistance is at 1.4320. Watch for a breakout above the level of 1.4325 going forward.
Trading recommendations:
Remain long with stop at 1.3900, a target is at 1.4300/25.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
