Technical analysis

GBPCHF Wave Analysis – 18 August, 2021

• GBPCHF reversed from support level 1.2555

• Likely to rise to resistance level 1.2700

GBPCHF currency pair recently reversed up from the key support level 1.2555 (which has been reversing the price from July) – strengthened by the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impusle from December.

The upward reversal from the support level 1.2555 stopped the previous intermediate ABC correction (2) from the start of August.

GBPCHF currency pair can be expected to rise further toward the next resistance level 1.2700. Strong support remains at the support level 1.2555.

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