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    Technical analysis of GBP/CHF for April 20, 2015

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    Technical outlook and chart setups:

    The GBP/CHF pair made lows below 1.4300 earlier before pulling back higher again. At the moment, it is trading at 1.4227 and is expected to push higher until prices remain above the level of 1.4100. It is recommended to initiate fresh long positions at the current levels with risk at 1.4100. Immediate resistance is seen at 1.4450 followed by 1.4630, 1.4800, and higher up, while support is seen through 1.4100 (interim) followed by 1.4000, 1.3850, and lower respectively. The pair should remain bullish above the level of 1.4100.

    Trading recommendations:

    Initiate long positions, stop at 1.4000, a target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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