Technical analysis

GBPCHF Wave Analysis – 25 June, 2021

• GBPCHF reversed from resistance level 1.2800

• Likely to fall to support level 1.2625

GBPCHF currency pair recently reversed down with the daily Bearish Engulfing from the key resistance level 1.2800 (which has been reversing the price from April), intersecting with the upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from April.

The downward reversal from the key resistance level 1.2800 stopped the previous impulse wave (iii).

GBPCHF can be expected to fall further toward the next support level 1.2625 (low of the previous corrections (ii) and ii).

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