Technical analysis

GBPCHF Wave Analysis – 27 April 2023

• GBPCHF reversed from long-term support level 1.1065

• Likely to rise to resistance level 1.1225

GBPCHF currency pair recently reversed up from the long-term support level 1.1065 (which has been reversing the pair from November), standing near the lower daily Bollinger Band.

The upward reversal from the support level 1.1065 stopped the C-wave of the medium-term ABC correction (B) from October.

Given the strong Swiss franc sales, GBPCHF currency pair can be expected to rise further toward the next resistance level 1.1225.

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