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).)