GBPCHF Wave Analysis – 23 March, 2022

• GBPCHF reversed from resistance level 1.2400
• Likely to fall to support level 1.2140

GBPCHF recently reversed down from the resistance level 1.2400 (top of the previous wave (a)), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from February.

The downward reversal from the resistance level 1.2400 stopped the previous short-term impulse wave (a) from last month.

GBPCHF can be expected to fall further toward the next support level 1.2140 (which has been reversing the price from December).