GBPCHF Wave Analysis – 05 September, 2019
September 05, 2019 @ 16:34 UTC
- GBPCHF rising inside weekly wave (ii)
- Further gains are likely
GBPCHF continues to rise inside the long-term upward corrective wave (ii) which started recently from the support area lying between the major long-term support level 1.1710 (yearly low from 2016) and the lower weekly Bollinger Band.
The active corrective wave (ii) belongs to the extended weekly downward impulse sequence ③ from the start of 2018.
GBPCHF is expected to rise further and retest the next resistance level 1.2280 (former strong multi-month support level from December).