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GBPCHF Wave Analysis – 22 February, 2019

GBPCHF Wave Analysis – 22 February, 2019
  • GBPCHF reversed from resistance area
  • Further losses are likely

GBPCHF recently reversed down from the resistance area lying between the multi-month resistance level 1.3110 (which has been reversing the price from the start of October, as can be seen below) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term impulse wave 3 of the medium-term impulse sequence (3) from January.

GBPCHF is expected to fall further and re-test the next key support level 1.2860 (low of the previous impulse wave 1).

1550850665GBPCHF

Source: FxPro


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