GBPCHF Wave Analysis – 12 August, 2022

• GBPCHF under bearish pressure

• Likely to fall to support level 1.1400

GBPCHF currency pair under the bearish pressure after the price broke the key support level 1.1525 (which has been reversing the price from the start of July).

The breakout of the support level 1.1525 accelerated the active short-term downward impulse wave (iii) from the start of August.

Given the clear daily downtrend, GBPCHF can be expected to fall further toward the next support level 1.1400.