Technical analysis

GBPCHF Wave Analysis – 9 February 2023

• GBPCHF reversed from support level 1.1100

• Likely to rise to resistance level 1.1315

GBPCHF currency pair earlier reversed up from the pivotal support level 1.1100, which is the lower boundary of the sideways price range inside the pair has been moving from the end of October.

The support level 1.1100 was further strengthened by the lower daily Bollinger Band.

Given the continued sterling optimism, GBPCHF can be expected to rise further toward the next resistance level 1.1315.

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