Technical Analysis of GBP/CHF for March 17, 2016
Technical outlook and chart setups:
The GBP/CHF pair is seen to be trading higher at 1.3950/60 levels at this moment. The pair has formed a base around 1.3880 levels, it seems, and it is looking to continue rallying above 1.4300 levels from here. Please note that the pair has bounced off the Fibonacci 0.681 support for the rally between 1.3725 through 1.4280 levels respectively. A tweezer bottom candlestick pattern has also been formed, indicating a potential reversal ahead. It is still recommended to remain long, with risk just below 1.3880 levels for now. Immediate support is seen at 1.3883 levels (interim), while resistance is seen through 1.4300 levels respectively.
Trading recommendations:
Remain long, stop below 1.3880, target above 1.4300.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
