Categories: Technical analysis

GBPCHF Wave Analysis – 24 May, 2022

• GBPCHF under bearish pressure
• Likely to fall to support level 1.1955

GBPCHF currency pair under the bearish pressure after the price broke below the key multi-month support level 1.2100 (lower boundary of the sideways price range from the start of March).

The breakout of the support level 1.2100 continues the active impulse waves (iii), 3 and (3).

GBPCHF currency pair can be expected to fall further toward the next support level 1.1955.

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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