GBPCHF continues to rise sharply after the price broke the resistance level 1.25000 (which was set as the likely upward target in our previous forecast for this currency pair), intersecting with the upper resistance trendline of the daily up channel from the start of January. The breakout of these resistance levels accelerated the active short-term impulse wave 5 – which belongs to the multi-month upward impulse wave (C) from the start of September. Given the strong Sterling optimism coupled with the significant Swiss franc bearishness seen across the currency markets today – GBPCHF currency pair is likely to rise further toward the next resistance level 1.27200 – followed by the resistance level 1.28360.