GBPCHF currency pair recently reversed down sharply from the resistance area located between the key resistance level 1.24200(which has been reversing the price from the middle of March), the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from the start of January. Given the strength of the aforementioned resistance area and the bullish CHF sentiment seen across the FX markets today – GBPCHF currency pair can be expected to fall further toward the next support level 1.23550.
GBPCHF reversed from resistance level 1.24200; Likely to fall to support level 1.23550.
