GBP/CHF: sell targets - 1.4400 and 1.4300
By: Dmitriy Chernovolov
- GBP/CHF falling inside minor (b)-wave
- Next sell targets - 1.4400 and 1.4300
GBP/CHF recently reversed down strongly from the resistance zone lying between the resistance level 1.4800, the upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward A-wave from last November (as can be seen from the daily GBP/CHF chart below). The downward reversal from this resistance zone continued the active minor (b)-wave from the end of January.
GBP/CHF is likely to fall further in the active (b)-wave toward the next sell targets 1.4400 and 1.4300 (target price calculated for the termination of the (b)-wave).