GBPCHF Wave Analysis 16 February, 2021
February 16, 2021 @ 18:50 +03:00
• GBPCHF under bullish pressure
• Likely to reach resistance level 1.2480
GBPCHF under bullish pressure as the result of the earlier breakout of the resistance level 1.2350 (which stopped the previous short-term impulse wave (iii) at the start of February).
The breakout of the resistance level 1.2350 accelerated the active impulse waves 3 and (iii) of the multi-month upward impulse sequence (C) from last September.
Given the clear daily uptrend – GBPCHF is likely to rise further toward the next resistance level 1.2480 (forecast price for the termination of the active minor impulse wave (iii)).