• GBP/CHF broke support level 1.2560
• Further losses are likely
GBP/CHF continues to fall inside the short-term impulse wave 5 – which recently broke through the support level 1.2560 (which stopped the previous sharp impulse wave 3 in August, as can be seen below).
The breakout of the support level 1.2560 should accelerate the active impulse wave 5 – along with the longer-term impulse wave (C) to which it belongs.
GBP/CHF is expected to fall further and retest the next support level 1.2400, which intersects with the support trendline of the daily down channel from April.