[FXGLORY]

Technical analysis of GPB/CHF 07.24.2012

The GPB/CHF currency pair has started its ascending trend since 08.10.2011 and it was able to continue this trend up to now with some small reforms. It recorded the 1.54652 level during its ascending trend. The price is now located in an ascending channel. Also the price has been stopped when it reached the resistance line and has formed a top price. Therefore, the price has descended a little. Right now, in this currency pair, the Stoch indicator is located in the saturation buy area and by considering the next cycle, there is the possibility of descend of theprice. Also, this indicator is the divergence mode with the price.The general trend is an ascending trend in this currency pair, however, as far as the existence of the top price on the channel, we can expect the descend of the price.