Technical analysis

GBPCHF Wave Analysis – 13 August, 2021

• GBPCHF reversed from resistance level 1,2800

• Likely to fall to support level 1.2700

GBPCHF currency pair recently reversed down from key resistance level 1,2800 (which has  been steadily reversing the pair from the middle of April), intersecting with the upper daily Bollinger band.

The resistance zone near the resistance level 1,2800 was strengthened by the 50%Fibonacci correction of the downward ABC correction from the start of April.

GBPCHF currency pair can be expected to fall further toward the next support level 1.2700 (former resistance from the end of July).

Article Rating