• GBPCHF reversed from support zone
• Likely to rise to resistance levels 1.2800
GBPCHF currency pair earlier reversed up from the support zone lying at the intersection of the major, multi-month support level 1.2546 which has been reversing the price from the middle of July), 38.2% Fibonacci correction of the sharp upward impulse from December and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier impulse wave 3.
Given the strength of the aforementioned support zone and the strong sterling sentiment seen across the FX markets today, GBPCHF currency pair can be expected to rise further toward the next resistance level 1.2800(which has been reversing the price from the start of April).