GBP/CHF approaching support level 1.2000
- GBP/CHF approaching support level 1.2000
- Next sell target - 1.1800
GBP/CHF continues to fall after the earlier breakout of the support level 1.2200, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.2200 accelerated the active minor impulse wave 5, which earlier broke the lower boundary of the sideways price range inside which the pair has been trading from the end of June.
GBP/CHF is currently approaching the round support level 1.2000. If the price breaks below this support level - GBP/CHF can then fall to the next support level 1.1800 (target price calculated for the completion of the active minor sub-wave (iii)).