GBPCHF Wave Analysis – 1 September, 2020

• GBPCHF broke resistance level 1.2000

• Likely to rise to 1.2250

GBPCHF recently broke above the key resistance level 1.2000 (which is the upper boundary of the tight sideways price range inside which the pair has been moving from the end of July).

The breakout of the resistance level 1.2000 accelerated the active short-term impulse wave (c).

Given the strongly bearish Swiss franc sentiment – GBPCHF is likely to rise further and test the resistance level 1.2250 (top of the previous corrective wave (2) from June).