GBP/CHF rides on broad based rally in Sterling this week and breaks through 1.2118 resistance. The development suggests resumption of the rise from 1.1683. Further rally is expected as long as 1.2054 support holds, for 1.2203/59 resistance zone. Decisive break there will resume whole rebound from 1.1102 to 61.8, projection of 1.1102 to 1.2259 from 1.1683 at 1.2398.
If happens, that would be a bullish medium term development too, as GBP/CHF could then sustain above 55 week EMA.
 
