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15.05.2012 09:55 AM
GBP/CHF Remains Intact, Buy On Dips

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Technical Outlook and Chart Setup:

As shown above, yesterday the anticipated pullback was very shallow before prices have raised closely to 1.5100 levels. Presently the 1.4920/50 level is the first support followed by other supports as shown above. We maintain our bullish stance for the single currency towards 1.5200 and 1.5400 in coming sessions. Every dip should be well capped above 1.4920/50, and they must be considered as buying opportunities.

Trade Recommendations:

Buy-deals are recmmended at 1.4700; Stop Loss is to be revised to 1.4900 (from previous 1.4800) with 1.5200 and 1.5400 seen as objectives.

 

Good Luck !

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