GBP/CHF reversed from support zone

GBP/CHF reversed from support zone

  • GBP/CHF reversed from support zone
  • Next buy target - 1.3050

GBP/CHF recently reversed up from the support zone lying between the pivotal support level 1.2800 (former resistance level which reversed the previous wave B in August), 38.2% Fibonacci correction of the previous upward impulse 1 and the 30-day moving average. The upward reversal from this support zone stopped the earlier minor ABC correction 2. GBP/CHF is expected to rise to the next buy target at the next resistance level 1.3050.


GBP/USD: "Triple Bottom"

The main intraday target is the next resistance at 1.4011. If a pullback from this level forms afterwards...


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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