Technical analysis

GBPCHF Wave Analysis 4 March, 2021

GBPCHF Wave Analysis 4 March, 2021

• GBPCHF under bullish pressure

• Likely to rise to resistance level 1.3200

GBPCHF under bullish pressure after breaking the long-term resistance level 1.2810 (which has been reversing the price from the start of 2020).

The breakout of the resistance level 1.2810 accelerated the active minor impulse wave C – which belongs to the major ABC correction (2) from last march.

GBPCHF is likely to rise further toward the next resistance level 1.3200 (target price for completion of the active waves C and (2)).

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