GBPCHF Wave Analysis – 23 July, 2021

• GBPCHF reversed from support zone
• Likely to rise to resistance level 1.2700

GBPCHF currency pair recently reversed up from the support zone lying between the support level 1.2570 (which has been reversing the price from the end of February), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from December.

The upward reversal from this support zone stopped the previous minor impulse waves (iii) and C.

GBPCHF can be expected to rise toward the next resistance level 1.2700 (former support from the end of June).