GBPCHF Wave Analysis – 01 April, 2019

GBPCHF reversed from support area

Further gains are likely

GBPCHF today reversed up from the support area lying between the key support level 1.2920 (monthly low from March), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse wave from January.

The upward reversal from this support area is likely to create the daily Japanese candlesticks reversal pattern Morning Star.

GBPCHF is expected to rise further and re-test the next resistance level 1.3200 (top of the previous wave (2) from March).


Source: FxPro