GBPCHF Wave Analysis – 19 May, 2022

• GBPCHF reversed from key support level 1.2100
• Likely to rise to resistance level 1.2200

GBPCHF today reversed up with the daily Long-Legged Doji from the key support level 1.2100 (which has been steadily reversing the pair from the start of March).

The support zone near the support level 1.2100 was strengthened by the lower daily Bollinger Band.

Given the strength of the nearby support level 1.2100, GBPCHF can be expected to rise further toward the next resistance level 1.2200.