Technical analysis

GBPCHF Wave Analysis 19 October 2023

– GBPCHF falling inside minor impulse wave 3

– Likely to fall to support level 1.0820

GBPCHF currency pair continues to fall inside the minor impulse wave 3, which reversed earlier from the  resistance level 1.1000 (former multi-month support level from March).

The active minor impulse wave 3 belongs to the intermediate impulse wave (C) from the middle of June.

Given the clear daily downtrend, GBPCHF can be expected to fall further toward the next support level 1.0820 (target for the completion of the active impulse wave (C)).

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