Market Snapshots

GBPCHF Wave Analysis – 19 June, 2020

GBPCHF Wave Analysis – 19 June, 2020

• GBPCHF under bearish pressure

• Likely to fall to 1,1730

GBPCHF under bearish pressure after the earlier breakout of the key support level 1.1820 (which has been reversing the price from the middle of May).

The breakout of the support level 1.1820 accelerated the active short-term impulse wave 3 which belongs to the sharp C-wave from the start of June. GBPCHF is likely to fall further toward the next support level 1,1730 (low of the previous wave (B)) – the breakout of which should lead to further losses toward 1,1600.

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