• GBPCHF reversed from support area
• Likely to rise to resistance 1.2800

GBPCHF currency pair recently reversed up from the support area lying between key support level 1.2615 (low of the previous wave A from April) and the support level 1.2575 (low of the previous minor correction from the end of February). The upward reversal from this support area stopped the previous intermediate ABC correction (4) from the start of April.

Given the strong daily uptrend and the continuation of the bearish Swiss franc sentiment seen across the FX markets today- GBPCHF currency pair can be expected to rise further toward the next resistance level 1.2800 (top of the previous corrective wave B from last month).