FBS - Analytics

FBS

550.50 6.50/10
88% of positive reviews
Real

GBP/СHF: buy target - 1.4000

  • GBP/СHF reversed from strong support zone
  • Next buy target - 1.4000

GBP/СHF continues to rise after the earlier upward reversal from the strong support zone surrounding the long-term support level 1.3800 (which also previously reversed the earlier intermediate ABC correction (2) in May of 2015, as can be seen from the daily GBP/СHF chart below). This support zone was further strengthened by the lower daily Bollinger Band.

Given the strength of the support zone near 1.3800 - GBP/СHF can be expected to rise further from the current levels toward the next buy target at the round resistance level 1.4000 – the breakout of which can lead to further gains toward 1.4150.



To leave a comment you must be or register