June 20, 2014
GBP/CHF continues to rise after recently breaking above the resistance level 1.5100 that was set as the buy target in our previous technical analysis report for this currency pair. The breakout of this resistance level accelerated the currently active minor impulse wave 3 belonging to the 3rd intermediate impulse wave (3) from the middle of March (as you can see below).
GBP/CHF recently corrected down to 38.2% Fibonacci Correction of the previous upward impulse from the start of this month. The pair is expected to rise further to the next buy target at 1.5350.
The post HY MARKETS News: Forex Report: GBP/CHF appeared first on | HY Markets Official blog.
