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GBPCHF Wave Analysis 23 February, 2021

GBPCHF Wave Analysis 23 February, 2021

• GBPCHF broke resistance level 1.2480

• Likely to reach resistance 1.2800

GBPCHF continues to rise strongly after the pair broke the resistance level 1.2480, intersecting with the 61.8% Fibonacci correction of the previous downward impulse from December.

The breakout of the resistance level 1.2480 accelerated the active impulse wave 3 – which then broke the daily up channel from December.

GBPCHF can be expected to rise further toward the next support resistance 1.2800 (former monthly high from February of 2020).

GBPCHF Wave Analysis 23 February, 2021


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