Technical Analysis of GBP/CHF for March 30, 2016
Technical outlook and chart setups:
The GBP/CHF pair is trading at 1.3905/15 levels for now, looking to rally and hit 1.4050 levels at least before producing a meaningful retracement lower. Please also note that the pair has broken its line of resistance already, and if prices push above 1.3950 levels, it is most likely to break through 1.4050 levels going forward. It is recommended to remain long now, with risk at 1.3800 levels. Immediate support is seen at 1.3850 levels, while resistance is seen at 1.4050 levels respectively. Bulls might want to remain in control for now, at least till prices stay above 1.3800 levels.
Trading recommendations:
Remain long now, stop at 1.3800, target is 1.4050.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
