FX.co ★ ivory29 | GBP/CHF

Here on the GBP/CHF pair, by the end of the previous trading week we got a move to the upside, and buyers managed to successfully break through the resistance at 1.0807, where it’s quite realistic to see a continuation of the upward movement. Moreover, my strategy based on Fibonacci expansion confirms a touch of the 61.8 Fib level, which corresponds to the market mark of 1.0807, where there is a high probability of a move north to the first level at 1.0973, which equals the 50 percent Fib level. From there, ideally, I would like to see a weakening wave, but it may also happen that we can continue the upward price movement, since most currencies against the pound have renewed their highs, so the situation here may turn out to be similar. But since the Swiss franc is dominating in many pairs, for now I’m only counting on growth up to the nearest resistance at 1.0973, and then I’ll see how things look. If we consolidate above it on the third touch, I’ll change the target in favor of a continued uptrend towards 1.1138; it will even be interesting to take part in that.