Forex technical market in the short term: GBPCHF
The pound sterling continued to rise compared to its counterpart in Switzerland this week after the prospect sustained by the National Institute of Economic and Social Research, and long-term expectations on interest rates at a higher level for the UK can determining that the continued listing GBPCHF reaches a higher level in the short term.
Exchange rate: GBPCHF
Chart Type: Graphics 60 minutes.
Bias in the short term: Horizontal.
Analysis
The pound sterling continued to rise compared to its counterpart in Switzerland this week after the prospect sustained by the National Institute of Economic and Social Research, and long-term expectations on interest rates at a higher level for the UK can determining that the continued listing GBPCHF reaches a higher level in the short term. After reaching a peak in November at 1.8976, the exchange rate Pound – Franco slipped to a minimum of 1.5124 on December 29 after a growing aversion toward risks, and the rebound in sensitivity of the market led to the quote press back above 1.7490 -1.7500 – (61.8% Fibonacci) this week. However, the lack of momentum to break above 1.7715, the maximum level of 2009, along with bearish divergence in the relative strength index suggested that trading GBPCHF is establishing a ceiling, and we can see the price fall back below the 61.8% Fibonacci to fill the hole from the moving average of 120 days. During the next few hours of operation, we can see the price by surrendering and working on their own way down to 1.7464, the moving average of 120 days, and a break below the moving average price may lead to a check level of 1.7040 – 50 (50.0% Fibonacci) for support. Be sure to check other technical reports from DailyFX for additional information regarding rates of exchange representative.
|
Special promotion : earn money with $100 earn
|
Comments
No comments yet.