GBP/CHF broke support level 1.2640

GBP/CHF broke support level 1.2640

  • GBP/CHF broke support level 1.2640
  • Next sell target - 1.2500

GBP/CHF continues to fall after the earlier breakout of the support level 1.2640 (previous powerful resistance level from January and February). The breakout of the support level 1.2640 was preceded by the breakout of the support trendline of the daily up channel from March – which accelerated the active minor ABC correction (ii) from the powerful resistance level 1.3050.

GBP/CHF is expected to fall to the next sell target at the support level 1.2500 (target price for the completion of the active wave (ii)).

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