Market Snapshots

GBPCHF Wave Analysis – 22 April, 2020

GBPCHF Wave Analysis – 22 April, 2020
  • GBPCHF reversed from support area
  • Likely to rise to 1.2100

GBPCHF recently reversed up from the support area lying between the round support level 1.900 (which was set as the likely downward target in our previous forecast for this currency pair) and the lower daily Bollinger Band.

The upward reversal from this support area started the active short-term correction (b).

GBPCHF is expected to rise further toward the next resistance level 1.2100 (which reversed the earlier wave (a) and which is also the target for the completion of the active wave (b))

 

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