Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/CHF falling inside impulse wave 3
- GBP/CHF falling inside impulse wave 3
- Next sell target - 1.2830
GBP/CHF recently reversed down from the strong resistance level 1.3040 (former powerful support from May and June, acting as resistance after it was broken by the previous impulse wave (i)). The downward reversal from the resistance level 1.3040 accelerated the active short-term impulse wave 3 from July. GBP/CHF is expected to fall further toward the next sell target at the next support level 1.2830 (target price for the termination of the active impulse wave 3).
Dmitry Chernovolov
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