GBPCHF Wave Analysis – 05 September, 2019

• GBPCHF rising inside weekly wave (ii)
• Further gains are likely

GBPCHF continues to rise inside the long-term upward corrective wave (ii) which started recently from the support area lying between the major long-term support level 1.1710 (yearly low from 2016) and the lower weekly Bollinger Band.

The active corrective wave (ii) belongs to the extended weekly downward impulse sequence ③ from the start of 2018.

GBPCHF is expected to rise further and retest the next resistance level 1.2280 (former strong multi-month support level from December).