NZD/JPY falling inside minor impulse wave C Next sell target - 76…
GBP/CHF reversed from powerful resistance level 1.3300
- GBP/CHF reversed from powerful resistance level 1.3300
- Next sell target - 1.3300
GBP/CHF today reversed sharply from the powerful resistance level 1.3300 (which stopped the previous intermediate impulse wave (1) at the end of October, as can be seen below). The resistance zone near the resistance level 1.3300 was strengthened by the upper daily Bollinger Band. GBP/CHF is expected to fall to the next sell target at the next round support level 1.3000 (which reversed previous waves A, (2) and 2).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.