Categories: Technical analysis

GBPCHF Wave Analysis – 13 February 2025

– GBPCHF reversed from the resistance zone

– Likely to fall to support level 1.1240

GBPCHF currency pair recently reversed from the resistance zone between the powerful resistance level 1.1360, (which stopped multiple upward waves from September) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Doji candlesticks pattern, which stopped the previous short-term ABC correction ii from the start of January.

Given the strength of the resistance level 1.1360 and the overbought daily Stochastic, GBPCHF currency pair can be expected to fall to the next support level 1.1240.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: GBPCHF

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