Categories: Technical analysis

GBPCHF Wave Analysis – 11 September, 2020

• GBPCHF approached key support level 1.1600

• Likely to fall to 1.1500

GBPCHF has been falling strongly in the last few trading sessions –  in line with the earlier report for this currency pair.

The price is currently trading close to the strong support level 1.1600 (which stopped the sharp downward impulse wave 1 at the end of June).

If the pair breaks below the support level 1.1600 – GBPCHF can then test the next support level 1.1500. In the alternative scenario the price is likely to test the resistance at 1.1750 (former powerful support from July).

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The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: GBPCHF

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