GBPCHF Wave Analysis – 16 March, 2020
March 16, 2020 @ 17:24 +03:00
- GBPCHF broke multi-month support level 1.1700
- Likely to fall to 1.1500
GBPCHF recently broke the key multi-month support level 1.1700 (which previously stopped the sharp downtrend in August of 2019 as can be seen below).
The breakout of the support level 1.1700 accelerated the active impulse wave (iii) – which is a part of the longer-term downward impulse sequence 3 from December.