• 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.