Technical analysis

GBPCHF Wave Analysis – 9 March 2023

• GBPCHF reversed from support level 1.1115

• Likely to rise to resistance level 1.1320

GBPCHF currency pair recently reversed up from the key support level 1.1115 (which has been reversing the price from the start of November) – coinciding with the lower daily Bollinger Band.

The upward reversal from the support level 1.1115 stopped the previous minor impulse waves (iii) and B.

Given the strength of the support level 1.1115, GBPCHF currency pair  can be expected to rise further toward the next resistance level 1.1320 (top of the earlier correction (ii)).

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