GBP/CHF: buy targets - 1.5400 and 1.5500
By: Dmitriy Chernovolov
- GBP/CHF reversed from support zone
- Next buy targets - 1.5400 and 1.5500
GBP/CHF today reversed up from the support zone lying between the support level 1.5200 (former major resistance level which reversed the pair sharply in the middle of April) and the 38.2% Fibonacci Correction of the previous strong upward impulse wave from the end of earlier minor correction (iv). The upward reversal from this support zone continues the active impulse waves (v), (iii) and 3.
GBP/CHF is expected to rise further – in line with the strong uptrend that can be seen on the daily charts – toward the next buy targets at the resistance levels 1.5400 and 1.5500.