ads Banner
Ads Banner
ForexFunction Logo

"Forex trading involves a high level of risk"

GICM Banner
 Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

Brexit deal boosts GBP/CHF rallies - Technicals & Trade Setup : FxWirePro | December 8, 2017

Print PDF

GBPCHF -0.69% has shown a huge jump yesterday after breaking major resistance 1.3330 as the UK reaches deal with the EU.

The pair hits high of 1.3469 while articulating and currently with spot rates at 1.3377 levels.

The major points in the agreement between EU and UK are both EU and UK citizens -2.50% can stay in any of the respective countries. There will no hard border for Ireland and no barriers between north, south, east and west.

The UK PM and European Commission to meet today to sign off a 15-page progress report. Market awaits US non-farm payroll jobs data today for further direction

The pair was struggling to break major resistance 1.3330 high made on Nov 1st 2017 and jumped almost 100 pips from that level.

The pair’s instantaneous stiff resistance is observed at around 1.3470 (161.8% retracement of 1.31965 and 1.28302) and any break-out above these levels would likely drag the pair upto next level till 1.3500/1.3560 (161.8% retracement of 1.33296 and 1.2955).

On the flip side, immediate support is seen at around 1.3360 ( 38.2% retracement of 1.3185 and 1.34695) and any break below will drag the pair to next level till 1.3330 (resistance turned into support)/1.3260 (7- day MA)/1.3205 (10- day MA). Short-term weakness below 1.31850. Overall bullish invalidation only below 1.29550.

Trade tips: Contemplating above technical rationale, on trading perspective, it is wise to add longs on dips around 1.3300 with SL around 1.3205 for the TP of 1.3465/1.3560.

Buzz the returns on this trade by buying double touch binary calls for upside targets upto 1.3465 levels, the strategy is likely to fetch exponential yields than the spot moves as the underlying FX most likely to spike higher levels on or before the expiry duration.

Currency Strength Index: FxWirePro's hourly GBP spot index has shown 8 (neutral), while hourly CHF spot index was at -59 ( bearish ) while articulating at 13:09 GMT             .

Submit Your Comments:

 Forex Trading VPS


Email & Twitter SMS Alert | Secured & Errorless Auto Copy | Support All Broker & Account Types | Premium eBooks, Analysis & Strategy | Custom Risk Management

Plan NameBuy LinkEmail AlertTwitter
SMS Alert
Signal Auto
Copier EA
Free VPS
(1-3 Months)
Monthly Target
(Semi-Annually )
AUTO COPY Subscribe NowYes Yes Yes Yes*
(Min 3 Month Subscription)
500+ Pips $25 23$ 20$$15Via Live Support
SIGNAL ALERT Subscribe NowYes Yes No No 500+ Pips $14 12$ 9$$7No Need
CashBack View DetailsYes Yes Yes Yes 500+ PipsFree Free FreeFreeVia Support

Windows 2008/2012 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
Economy buy now2 Core 756MB 15GB 1TB $6.50/M$6.20/M$5.90/M $5.50/M MT4 Pre-InstalledYesFree
Standard buy now 2 Core 1GB 25GB 1.5TB $8.50/M$8.20/M$7.90/M $7.50/M MT4 Pre-InstalledYesFree
Premiumbuy now 2 Core 2GB 40GB 2TB $16/M$15.50/M$15/M$14.50/M MT4 Pre-InstalledYesFree
Advanced buy now4 Core 3GB 60GB 2.5TB $26/M$25/M$24/M $22/M MT4 Pre-InstalledYesFree
Professionalbuy now 4 Core 4GB 80GB 3TB $33/M $32/M$31/M$29/MMT4 Pre-InstalledYesFree
Business buy now 4 Core 6GB 100GB 4TB$46/M $45/M$44/M$42/MMT4 Pre-InstalledYesFree
Platinum buy now 4 Core 8GB 120GB 6TB $59/M $58/M$57/M$55/M MT4 Pre-InstalledYesFree
Diamond buy now 4 Core 12GB 180GB 8TB $89/M $87/M$85/M$81/MMT4 Pre-InstalledYesFree

***We accept Neteller, Skrill, MasterCard, Paypal, Payza, Perfect Money, Webmoney !