• GBPCHF reversed from support area
• Likely to rise to resistance level 1.2825
GBPCHF currency pair recently reversed up from the support area lying between the long-term support level 1.2620 (which has been reversing the price from the start of April), lower daily Bollinger band and the 38.2% Fibonacci correction of the sharp upward impulse from the middle of December. The upward reversal from this support area support area stopped the previous short-term impulse wave (i).
Given the strengthening sterling sentiment, GBPCHF currency pair can be expected to rise further toward the next resistance level 1.2825 (which has been reversing the price from the middle of April).