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FxPro Forex Analysis: GBPCHF Wave Analysis – May 30, 2018

GBP/CHF falling inside short-term impulse wave C
• Further decline are likely

GBP/CHF continues to fall inside the short-term impulse wave C, which belongs to the medium-term ACB correction (4) from the middle of April.

The price earlier broke through the support zone lying between the support level 1.3220, support trendline from the end of August and the 61.8% Fibonacci retracement of the previous strong upward impulse (3) from March.

The breakout of the aforementioned support zone accelerated the active impulse wave C – increasing the probability the price will continue to fall toward the next key support level 1.2900 (low of the previous wave (2)).

GBPCHF - Primary Analysis - May-30 1257 PM (1 day)

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