LeoPrime Daily Market Analysis

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GBPCHF reversed from support area; Likely to rise to resistance level 1.7500

GBPCHF currency pair recently reversed up from the combined support zone located at the intersection of the support level 1.07000, lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward price impulse wave (c) from the start of July. Given the proximity of the aforementioned support zone and the rising sterling bullishness seen across the FX markets today, GBPCHF currency pair can be expected to rise toward the next resistance level 1.75000 (which has been reversing the price from the end of July).

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