GBPCHF recently broke the resistance area located between the resistance level 1.2450 (which stopped the previous waves (4) and (A)) and the 50% Fibonacci correction of the previous downward impulse (1) from April. The breakout of this resistance area accelerated the active medium-term impulse wave (C). Given strengthening bullish Sterling sentiment – GBPCHF is expected to rise further in the active medium-term impulse wave (C) toward the next resistance level 1.2800 (forecast price for the completion of the impulse wave (3)).
