- GBPCHF reversed from resistance zone
- Likely to fall to support level 1.1300
GBPCHF currency pair recently reversed down from the resistance zone between the multi-month resistance level 1.1385 (which has been reversing the price from July) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped impulse wave 5 of the intermediate upward impulse sequence (C) from January.
Given the strength of the resistance level 1.1385 and the triple bearish divergence on the daily Stochastic, GBPCHF currency pair can be expected to fall to the next support level 1.1300 (low of the previous minor correction 4).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
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Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.