Technical analysis

GBPCHF Wave Analysis – 6 June, 2022

GBPCHF Wave Analysis – 6 June, 2022

• GBPCHF reversed from round support level 1.2000
• Likely to reach resistance level 1.22

GBPCHF recently reversed up from the key round support level 1.2000 (which has been repeatedly reversing the pair from the end of May) .

The support zone near the support level 1.2000 was strengthened by the lower daily Bollinger Band.

Having just broken above the key resistance 1.2110 (which has stopped all advances at the end of May), GBPCHF can be expected to rise further toward the next resistance level 1.22 (top of wave (ii) from last month).

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