GBPCHF Wave Analysis 2 December, 2020

• GBPCHF broke round support level 1.2000

• Likely to fall to 1.1800

GBPCHF recently broke the round support level 1.2000 (low of the previous minor impulse wave (i)) intersecting with the 50% Fibonacci correction level of the previous sharp upward impulse from the start of November.

The breakout of the support level 1.2000 accelerated the active short-term impulse wave (iii), which started earlier from the powerful resistance level 1.2200.

GBPCHF is expected to fall further toward the next support level 1.1800 (target price for the completion of the active impulse wave (iii)).