Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

GBP/CHF falling inside the C-wave

  • GBP/CHF falling inside the C-wave
  • Next sell target - 1.2600

GBP/CHF continues to fall inside the C-wave of the intermediate ABC correction (2), which started earlier this month – when the pair reversed down from the resistance zone lying between the resistance level 1.3200 (which stopped the previous wave 4, as can be seen from the daily GBP/CHF chart below) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of June.

GBP/CHF is expected to fall further toward the next sell target at the support level 1.2600 (forecast price calculated for the completion of impulse wave C). Strong resistance now stands at 1.3200.

Scroll to top