GBP/CHF broke powerful support level 1.3040

• GBP/CHF broke powerful support level 1.3040
• Next sell target - 1.2900

GBP/CHF continues to fall after the earlier breakout of the powerful support level 1.3040 (which stopped earlier impulse waves (1) and 1, as can be seen from the daily GBP/CHF chart below). The breakout of support level 1.3040 accelerated the active minor impulse wave 3 – which belongs to the medium-term impulse wave (3) from the middle of June. GBP/CHF is expected to fall further toward the next sell target at the next support level 1.2900 (which reversed the pair in March).

Dmitry Chernovolov

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