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Wave Tech Analysis

FxPro Forex Analysis: GBPCHF Wave Analysis – 5 July , 2018

GBPCHF reversed from support area
• Likely to rise further

GBPCHF recently reversed up from the support area lying between the key support level 1.3060 (which has been reversing the price from end of May), lower daily Bollinger Band, support trendline from October and the 59% Fibonacci correction of the upward impulse from 2017.

The upward reversal from this support area started the active minor corrective wave C.

GBPCHF is likely to rise further and re-test the next resistance level 1.3200 (which reversed previous corrective waves (a) and A).

GBPCHF - Primary Analysis - Jul-05 1419 PM (1 day)