GBPCHF Wave Analysis – 28 July, 2022

• GBPCHF broke daily down channel

• Likely to rise to resistance level 1.1770

GBPCHF continues to rise after the earlier breakout of the resistance trendline of the daily down channel from the start of July – which accelerated the active correction (iv).

The breakout of the down channel follows the earlier upward reversal from the key support level 1.1530 (which has been reversing the pair from the start of July).

GBPCHF can be expected to rise further toward the next resistance level 1.1770 (top of the previous minor correction (iv)).