GBPCHF Wave Analysis – 30 August, 2022

• GBPCHF reversed from support level 1.1290

• Likely to rise to resistance level 1.1420

GBPCHF currency pair recently reversed up from the support level 1.1290 (which stopped the previous minor impulse wave (i) earlier this month) standing near the lower daily Bollinger Band.

The upward reversal from the support level 1.1290 stopped the earlier impulse waves iii and (iii).

Given strength of the nearby support level 1.1290, GBPCHF can be expected to rise further toward the next resistance level 1.1420 (top of the previous wave (ii)).