Technical analysis

GBPCHF Wave Analysis 13 May, 2021

• GBPCHF reversed from resistance area

• Likely to fall to support level 1.2620

GBPCHF currency pair recently reversed down from the resistance area lying between the pivotal resistance level 1.2810 (former support from March and the top of wave (b) from April) and the upper daily Bollinger Band.

The downward reversal from this resistance area will likely form the daily Evening Star – if the pair closes today near the current levels.

GBPCHF is likely to fall toward the next support level 1.2620 (which has been reversing the price from the start of April).

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