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GBPCHF currency pair under the bullish pressure after the price reversed up from the support zone lying between the key support level 1.21200 and the lower daily Bollinger Band . The upward reversal from this support zone stopped the previous impulse waves 5 and (3).
Given the strength of the aforementioned support zone, still oversold daily Stochastic, GBPCHF currency pair can be expected to rise further toward the next resistance level 1.22800 (former strong support from January).
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