Categories: Technical analysis

GBPCHF Wave Analysis – 8 September, 2022

• GBPCHF broke key support level 1.1300

• Likely to fall to support level 1.1100

GBPCHF currency pair recently broke through the key support level 1.1300 (which stopped the earlier minor impulse waves (iii) and (i)).

The breakout of the support level 1.1300 accelerated the active impulse waves (iii), 5 and (3).

Given the clear daily downtrend and strong Swiss franc bullishness seen today – GBPCHF can be expected to fall further toward the support level 1.1100 (target for the completion of the active impulse waves (iii), 5 and (3).)

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPCHF

Recent Posts

GBPCAD Wave Analysis 21 November 2024

- GBPCAD broke support zone - Likely to fall to support level 1.7500 GBPCAD currency…

13 hours ago

EURCHF Wave Analysis 21 November 2024

- EURCHF under bearish pressure - Likely to fall to support level 0.9250 EURCHF under…

13 hours ago

Natural Gas Wave Analysis 20 November 2024

- Natural gas broke the multi-month resistance level 3.150 - Likely to rise to resistance…

2 days ago

Coca-Cola Wave Analysis 20 November 2024

Coca-Cola reversed from support level 61.35 Likely to rise to resistance level 64.00 Coca-Cola earlier…

2 days ago

The pound falls despite an acceleration in inflation

UK inflation accelerated to 2.3%, its highest level since March, but this did not boost…

2 days ago

The crypto market loses some spark

The cryptocurrency market cap is up 0.3% in 24 hours. Bitcoin reached new all-time highs…

2 days ago

This website uses cookies