Daily Forex Update: GBP/CHF
AutoChartist | Feb 27, 2014 04:07AM ET
GBP/CHF continues to rise inside the Pennant chart pattern that was previously identified by Autochartist on the daily charts – as you can see from the following trade opportunity alert for this currency pair. GBP/CHF is expected to break this Pennant and to reach the target level 1.4977 (point B) in the next 4 trading days. Autochartist set the stop-level for this forecast at 1.4716 (point A).This forecast is aligned with the predominant uptrend visible on the daily GBP/CHF charts – and follows the earlier reversal from the 61.8% Fibonacci Correction of the preceding daily upward impulse from December (as you can see on the second chart below).
The following daily GBP/CHF chart shows the longer-term view of this pair’s movement:
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.