GBP/CHF hits as high as 1.2271 so far today. The break of 1.2259 resistance is tentatively seen as signal of resuming whole rebound from 1.1102. Further rise is now expected as long as 1.2145 minor support holds. Next target is 61.8% projection of 1.1102 to 1.2259 from 1.1683 at 1.2398. Firm break there would bring upside acceleration to 100% projection at 1.2840.
USD/CHF’s break of 0.8925 also suggests resumption of rebound from 0.8756. Further rise should be seen to 0.8998 support turned resistance first, which is close to 100% projection of 0.8756 to 0.8925 from 0.8837. Firm break there will argue that rebound from 0.8756 is indeed correcting the whole down trend from 0.9901 to 0.8756, and target 38.2% retracement at 0.9193.
