GBPCHF currency pair recently reversed up from the powerful support level 1.21450 (former resistance from January, which has been reversing the price from the start of December, as can be seen from the daily GBPCHF chart below) – strengthened by the lower daily Bollinger Band. The upward reversal from the support level 1.21450 created the daily candlestick reversal pattern Bullish Engulfing. Given the strength of the support level 1.21450 (and the improved sterling sentiment seen across the FX markets today, GBPCHF currency pair can be expected to rise further toward the next resistance level 1.23550 (which reversed the pair earlier this month).