• GBPCHF reversed from support zone
• Likely to rise to resistance level 1.2730

GBPCHF currency pair recently reversed up from the support zone lying between the strong support level 1.2601 (which has been reversing the price from the end of February), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from December. The upward reversal from this support zone stopped the previous minor impulse wave C.

Given the prevailing daily uptrend – GBPCHF currency pair can be expected to rise further toward the next resistance level 1.2730 (former multi-candle resistance level which has been reversing the price from the end of April, top of the previous correction (ii)).