GBP/CHF reversed from support zone
- GBP/CHF reversed from support zone
- Next buy target - 1.3000
GBP/CHF recently reversed up from the powerful support zone lying between the support levels 1.2600 (previous sell target set for this currency pair) and 1.2700 (low of the earlier sharp downward C-wave from the start of 2015). The upward reversal form this support zone stopped the earlier minor impulse wave 3, which belongs to the intermediate (C)-wave from the end of 2015.
Given the clear bullish Stochastic divergence that can be seen on the weekly GBP/CHF chart –the pair is likely to rise further from the current levels toward the next buy target at the resistance level 1.3000.