• GBPCHF reversed from support level 1.2120
• Likely to rise to resistance level 1.2225
GBPCHF currency pair earlier reversed up sharply from the pivotal support level 1.2120 (which stopped the previous minor impulse wave 1 at the start of March).
The upward reversal from the support level 1.2120 stopped the previous impulse waves (iii), 3 and (3).
Given the strength of the support level 1.2120 – GBPCHF currency pair can be expected to rise toward the next resistance level 1.2225 (top of the previous correction (ii)).