GBPCHF Wave Analysis 23 February, 2021
February 23, 2021 @ 18:55 +03:00
• GBPCHF broke resistance level 1.2480
• Likely to reach resistance 1.2800
GBPCHF continues to rise strongly after the pair broke the resistance level 1.2480, intersecting with the 61.8% Fibonacci correction of the previous downward impulse from December.
The breakout of the resistance level 1.2480 accelerated the active impulse wave 3 – which then broke the daily up channel from December.
GBPCHF can be expected to rise further toward the next support resistance 1.2800 (former monthly high from February of 2020).