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GBPCHF: ⬆️ Buy
– GBPCHF reversed from key support level 1.0665
– Likely to rise to the resistance level 1.0800
GBPCHF currency pair recently reversed from the support zone between the pivotal support level 1.0665 (former strong support from April) and the lower daily Bollinger Band.
The upward reversal from this support zone will likely form the daily Japanese candlesticks reversal pattern Bullish Engulfing, if the pair closes today near the current levels.
Given the strength of the support level 1.0665 and the bullish divergence on the daily Stochastic, GBPCHF can be expected to rise to the next resistance level 1.0800 (which stopped earlier corrections (ii) and ii).
Source: https://fxpro.news
