GBPCHF: ⬆️ Buy
- GBPCHF reversed from strong support level 1.0785
- Likely to rise to resistance level 1.0950
GBPCHF currency pair recently reversed up from the strong support level 1.0785 (which has been steadily reversing the price from last August as can be seen below).
The upward reversal from the support level 1.0785 created the daily Japanese candlesticks reversal pattern Bullish Engulfing.
Given the strength of the support level 1.0785 and the oversold daily Stochastic, GBPCHF currency pair can be expected to rise to the next round resistance level 1.0950.
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