InstaForex - Analytics

    InstaForex

    700.25 6.25/10
    62% of positive reviews
    Real

    Technical analysis of GBP/CHF for May 02, 2016 2016-05-02

    GBP/CHF is still trending down without being able to produce new higher high. Pair formed a strong resistance area between 1.4200 and 1.4300. Last week, this resistance was tested once again and rejected forming a bearish divergence on the RSI oscillator.

    Fibonacci applied to the descending channel breakout point shows that rate failed to test 23.6% after breaking below the 38.2% level. Consider selling GBP/CHF at the current rate (1.4040) targeting the 23.6% support - S5 (1.3360). The stop loss should be just above the R1 (1.4285).

    Support: 1.4000, 1.3820, 1.3680, 1.3535, 1.3360

    Resistance: 1.4285

    GBPCHF_INSTA.png

    Show full picture

    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