GBPCHF Wave Analysis – 08 May, 2019

• GBPCHF reversed from resistance area
• Further losses are likely

GBPCHF recently reversed down from the resistance area lying between the key resistance level 1.3400 (monthly high from March) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous medium-term ABC correction (2) from the end of March.

GBPCHF is expected to fall further and re-test the next support level 1.3140 (low of the previous wave (iv) from last month).