GBP/CHF Market Outlook for Apr 12, 2016
The local support formed near the 1.3720 mark was able to confront the general descent only for a limited time. A bounce off it to the closest local support posed by the level 1.3920 was used for sells. As a result, the quotes not only went back to the minimum mark of 1.3720 in the next descent but also successfully broke it. This allowed the new wave to develop within the general descending trend. At this time, when the pair has reached the 1.34 mark, another bounce is being observed. At this time, the zone of the 1.3720 mark will pose the first significant barrier on the quotes’ way upward. So long as this barrier remains buyers’ turf, there is every reason for the prices to resume going down after a potential test of said resistance.
The analysis above does not constitute direct trading instructions, as certain entry formations are used near levels. The analysis above is of purely informative nature.
Аналитик компании Gerchik & Co с 2015 г. В 1996 году окончил Поволжский институт информатики радиотехники и связи. На финансовых рынках с 2007 года. Работал в брокерских компаниях на позиции аналитика. Имеет квалификационный сертификат ФСФР серии 1.0.