Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/GBP broke key resistance level 0.8880
- EUR/GBP broke key resistance level 0.8880
- Next buy target - 0.8970
EUR/GBP continues to rise strongly after the earlier breakout of the key resistance level 0.8880 (which stopped earlier waves (i) and i, as can be seen below). The breakout of the resistance level 0.8880 accelerated the active minor impulse wave 3 – which belongs to the medium-term impulse wave (C) from the end of May. EUR/GBP is expected to rise further toward the next buy target at the next resistance level 0.8970.
Dmitry Chernovolov
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