LeoPrime Daily Market Analysis

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GBPCHF broke key resistance level 1.20000; Likely to rise to 1.22200

GBPCHF continues to rise strongly after the earlier breakout of the key resistance level 1.20000 (which is the upper borer of the narrow sideways price range inside which the pair has been moving from the end of September). The breakout of this resistance level accelerated the active impulse wave (c). Given the strongly bullish Sterling sentiment seen across the currency markets today, GBPCHF is likely to rise further toward the next resistance level 1.22200 (former monthly high from June and September and the target price for the completion of the active impulse wave (c)).

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