Technical analysis

GBPCHF Wave Analysis – 1 June, 2021

• GBPCHF reversed from resistance level 1.2800

• Likely to fall to support level 1.2650

GBPCHF currency pair recently reversed down from the pivotal resistance level 1.2800 (former support from March – which has been revering the price from April).

The resistance zone near the resistance level 1.0650 was strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward correction 4 from April.

GBPCHF can then be expected to fall further toward the next support level 1.2650 (low of the previous minor correction (ii)).

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