EUR/USD reversed from support zone Next buy target - 1…
GBP/CHF rising inside minor impulse wave 3
- GBP/CHF rising inside minor impulse wave 3
- Next buy target - 1.3300
GBP/CHF continues to rise inside the minor impulse wave 3 which started earlier from the support zone lying between the round support level 1.3000 (former resistance level from October), 30-day moving average, 50% Fibonacci correction of the upward price impulse from last month and the daily support trendline from August. GBP/CHF is expected to rise further toward the next buy target at the next resistance level 1.3300 (which reversed previous impulse wave (i)).
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.