GBPCHF Wave Analysis – 22 December, 2021

• GBPCHF reversed from key support level 1.2145

• Likely to rise to resistance level 1.2350

GBPCHF currency pair recently reversed up with the daily Bullish Engulfing from the key support level 1.2145 (which has been reversing the price from last January), strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 1.2145 stopped the previous ABC correction (2).

GBPCHF can be expected to rise further toward the next resistance level 1.2350 (top of the earlier impulse wave (1)).