GBPCHF continues to rise inside the sharp minor impulse wave 3 which previously broke the long-term resistance 1.22000 (which has been reversing the price from the end of April and which is the upper boundary of the sideways price range inside which the pair has been trading from last year). The breakout of the resistance 1.22000 added to the bullish pressure on GBPCHF. Given the strongly bullish sterling sentiment seen across the currency markets today – GBPCHF currency pair is expected to rise further toward the next resistance level 1.25100 (intersecting with the daily up channel from the middle of December).