GBP/CHF reversed from support area

GBP/CHF reversed from support area

  • GBP/CHF reversed from support area
  • Next buy target - 1.2500

GBP/CHF recently reversed up with the daily Bullish Engulfing from the support area lying between the strong support level 1.2280 (which has reversed multiple previous downward waves from the middle of March, as can be seen from the daily GBP/CHF chart below) and the lower daily Bollinger Band. The upward reversal from this support area started the active minor impulse wave (iii). GBP/CHF is expected to rise to the next buy target at the next resistance level 1.2500.


Bitcoin (BTC/USD) opening the doors for a lower extension

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Morning brief for May 30

 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…

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