Large Head And Shoulders Setup in GBP-CHF

Popular Articles

By Jamie Saettele | Published 09/2/2005 | Currency | Unrated

Large Head and Shoulders Setup in GBP-CHF

GBP/CHF continues to curve a large Head And Shoulders setup on a daily chart.
Failure analysis points to a possible reversal and a failure to break the neckline.
High-probability setup points to move toward the 2004 low.

Key Levels - Current Price: 2.2602

Level Type Significance
2.2876 Resistance 23.6 Fib of the 2.1462-2.3313 GBP rally
2.2606 Support   38.2 Fib of the 2.1462-2.3313 GBP rally
2.2387 Support   50.0 Fib of the 2.1462-2.3313 GBP rally
2.2360 Support   Neckline
2.2169 Support   61.8 Fib of the 2.1462-2.3313 GBP rally
2.1858 Support   78.6 Fib of the 2.1462-2.3313 GBP rally

Weekly Chart 09-02-05

Daily Chart I 09-02-05

Daily Chart II 09-02-05

Daily Chart III 09-02-05

4 Hour Chart 09-02-05

Sam Shenker is a Technical Currency Analyst for FXCM.

It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.