GBPCHF Wave Analysis – 29 July, 2020

• GBPCHF moving inside sideways price range

• Likely to correct to 1.1750

GBPCHF recently reversed up from the support level 1.1750 (lower boundary of the narrow sideways price range – inside which the pair has been trading from the start of July, as can be seen below).

GBPCHF is currently trading close to the resistance level 1.1940 (upper boundary of this price range).

If the pair breaks above the resistance level 1.1940 – the price can then rise toward the next round resistance level 1.2000. Alternatively the pair will re-test the support level 1.1750.