empty
 
 
19.07.2016 08:18 AM
GBPCHF Technical Analysis for July 19, 2016.

This image is no longer relevant

Technical outlook and chart setups:

GBP/CHF is seen to be trading at 1.3000/10 levels at this moment, looking to push higher towards 1.3200/3300 levels at least before producing a meaningful retracement lower. The wave structure indicates that the pair might be into wave 5 within the impulse wave. If this wave count holds true, we can expect a rally from here and bulls would want to remain in control till prices stay above 1.2880 levels. Please also note that bulls should be poised to take out resistance lined up at 1.3250 levels. It is hence recommended to remain long now, with risk around 1.4800 levels. Immediate support is seen at 1.2880/1.2900 levels, while resistance is seen at 1.3200 respectively. Looking higher at least for now.

Trading recommendations:

Remain long, stop at 1.2800, target 1.3200/1.3300.

Good luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback