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GBPCHF: ⬆️ Buy
– GBPCHF reversed from support zone
– Likely to rise to resistance level 1.0500
GBPCHF recently reversed up from the support zone between strong support level 1.0400 (which stopped the daily downtrend with the daily Hammer in November) and the lower daily Bollinger Band.
The upward reversal from the support level 1.0400 stopped the c-wave of the earlier medium-term ABC correction (2) from January.
Given the strength of support level 1.0400 and the oversold daily Stochastic, GBPCHF can be expected to rise to the next resistance level 1.0500 (former support from the end of January).
Source: https://fxpro.news
