- GBPCHF broke multi-month resistance level 1.3100
- Further gains are likely
GBPCHF recently broke through the multi-month resistance level 1.3100 – which has been steadily reversing the price from the start of October.
The breakout of the resistance level 1.3100 accelerated the active short-term impulse wave C – which belongs to the medium-term ABC correction (2) from January.
GBPCHF is expected to rise further and re-test the next resistance level 1.3250 (monthly high from July and the target price for the completion of the active impulse wave C).