Market Snapshots

GBPCHF Wave Analysis – 20 April, 2020

GBPCHF Wave Analysis – 20 April, 2020
  • GBPCHF broke resistance zone
  • Likely to fall to 1.1890

GBPCHF recently reversed down from the resistance area located between the key resistance level 1.2100 (former strong support from October) and the 61.8% Fibonacci correction of the downward impulse from the middle of February.

The downward reversal from this resistance zone started the active minor corrective wave (ii) of the ©-wave from the start of April.

GBPCHF is expected to fall further toward the next support level 1.1890 (low of the earlier correction (b) and target price for the completion of the active wave (ii)).

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