Technical analysis

GBPCHF Wave Analysis – 15 July, 2021

• GBPCHF reversed from key support level 1.2615
• Likely to rise to resistance level 1.2800

GBPCHF currency pair once again reversed up from the key support level 1.2615 (which has been reversing the pair from the middle April), standing near the lower daily Bollinger band and the 38.2% Fibonacci correction of the upward impulse form December.

The upward reversal from the support level 1.2615 started the active short-term correction (ii).

GBPCHF currency pair can be expected to rise further toward the next resistance level 1.2800 (target price for the completion of the active short-term correction (ii)).

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