GBPCHF Wave Analysis 8 January 2025

– GBPCHF reversed from resistance zone

– Likely to fall to support level 1.1200

GBPCHF currency pair recently reversed down from the resistance zone located between the strong multi-month resistance level 1.1360 (which has been reversing the price from September) and the upper daily Bollinger Band.

The downward reversal from this resistance zone is likely to form the daily Evening Star Japanese candlesticks reversal pattern.

Given the strength of the nearby resistance level 1.1360, GBPCHF currency pair can be expected to fall to the next support level 1.1200.