Technical analysis

GBPCHF Wave Analysis 26 March, 2021

GBPCHF Wave Analysis 26 March, 2021

• GBPCHF reversed from support level 1.2800

• Likely to rise to resistance level 1.3000

GBPCHF continues to rise inside the accelerated impulse wave (v) which started earlier from the support level 1.2800 standing near the lower daily Bollinger Band.

The active impulse wave (v) belongs to the sharp upward impulse wave C of the ABC correction (2) from March of 2020.

GBPCHF is likely to rise further toward the next resistance level 1.3000 (top of the impulse wave (iii)) – followed by the resistance level 1.3200 (target for the completion of wave C).  

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