InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Technical analysis of GBP/CHF for November 18, 2015

    Show full picture

    Technical outlook and chart setups:

    The GBP/CHF pair might have finally reached an intermediate high at 1.5470 reversing lower. The pair is already overdue for a corrective drop towards 1.4900 before the rally could resume further. Moreover, there is a pin-bar candlestick pattern as well on the H4 chart followed by a potential engulfing bearish underway now. The aggressive trade setup would be to go short with risk at 1.5500. A conservative way would be to remain flat now. Immediate interim resistance is seen at 1.5470, while support is seen at 1.5350.

    Trading recommendations:

    Aggressive: Stay short with stop at 1.5500, a target is at 1.4900

    Conservative: stay flat.

    Good luck!

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree