GBP/CHF rising inside impulse wave (5)

GBP/CHF rising inside impulse wave (5)

  • GBP/CHF rising inside impulse wave (5)
  • Next buy target - 1.3460

GBP/CHF continues to rise inside the intermediate impulse wave (5), which started earlier from the support area lying between the key support level 1.3130, lower daily Bollinger Band and the 50% Fibonacci retracement of the previous sharp upward impulse from the start of October. GBP/CHF is expected to rise further in the active impulse wave (5) toward the next buy target at the next resistance level 1.3460 (which stopped the previous sharp impulse wave (3) in December).



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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