• Likely to fall to 1.1500
GBPCHF has been falling strongly in the last few trading sessions – in line with the earlier report for this currency pair.
The price is currently trading close to the strong support level 1.1600 (which stopped the sharp downward impulse wave 1 at the end of June).
If the pair breaks below the support level 1.1600 – GBPCHF can then test the next support level 1.1500. In the alternative scenario the price is likely to test the resistance at 1.1750 (former powerful support from July).