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Tuesday, August 13, 2013

GBP/CHF TECHNICAL ARTICLE FOR THIS WEEK (13.08.2013 – 16.08.2013)



GBP/CHF has achieved its three month low of 1.40429. After touching its great support, the trend reversal has been happening since this month. 

GBP has gained around 300 pips by this movement. The accomplishment of this gain will be continuing until it reaches the resistance of 1.44278. 

Obviously, the moving average is predicting the uptrend and it got support from the economical reviews. This facilitates the trading forecast to be succeeded.   

By considering the overall trend of this month, GBP/CHF has attained its overbought.  Unless any economic releases, the downtrend will begin in the near future. 

Perhaps, the long will continue to reach the resistance. But keep in mind, the belief over the volatility of this pair soon leads to oversold.

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