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Wave Tech Analysis

FxPro Forex Analysis: GBP/CHF Wave Analysis – 03 September , 2018

GBP/CHF broke support level 1.2560
• Further losses are likely

GBP/CHF continues to fall inside the short-term impulse wave 5 – which recently broke through the support level 1.2560 (which stopped the previous sharp impulse wave 3 in August, as can be seen below).

The breakout of the support level 1.2560 should accelerate the active impulse wave 5 – along with the longer-term impulse wave (C) to which it belongs.

GBP/CHF is expected to fall further and retest the next support level 1.2400, which intersects with the support trendline of the daily down channel from April.

GBPCHF - 1 - Sep-03 1837 PM (1 day)