GBPCHF Wave Analysis – 7 September, 2020

• GBPCHF reversed from resistance level 1.2215

• Likely to fall to 1,2000

GBPCHF recently reversed down sharply from the key resistance level 1.2215 (which has been steadily reversing this currency pair from the end of April, as can be seen below).

The downward reversal from the resistance level 1.2215 started the active short-term impulse wave 3.

With the widespread GBP bearishness seen today – GBPCHF is likely to fall further toward the next round support level 1,2000 (former resistance level from August).