GBPCHF Wave Analysis – 21 February 2025

– GBPCHF reversed from resistance zone

– Likely to fall to support level 1.1300

GBPCHF currency pair recently reversed down from the resistance zone between the multi-month resistance level 1.1385 (which has been reversing the price from July) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped impulse wave 5 of the intermediate upward impulse sequence (C) from January.

Given the strength of the resistance level 1.1385 and the triple bearish divergence on the daily Stochastic, GBPCHF currency pair can be expected to fall to the next support level 1.1300 (low of the previous minor correction 4).