GBPCHF currency pair can be expected to rise further toward the next resistance level 1.1350, former low of wave A from the start of June.
– GBPCHF reversed from key support level 1.1215
– Likely to rise to resistance level 1.1350
GBPCHF currency pair recently reversed up from the key support level 1.1215 (which has been reversing the price from the start of March, as can be seen from the daily GBPCHF chart below) intersecting with the lower daily Bollinger Band and standing near the 50% Fibonacci correction of the previous sharp upward impulse from the December. The upward reversal from the support level 1.1215 created the daily Japanese candlesticks reversal pattern Morning Star Doji.
Given the clear daily uptrend and the strength of the support level 1.1215, GBPCHF currency pair can be expected to rise further toward the next resistance level 1.1350, former low of wave A from the start of June.
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