GBPCHF Wave Analysis – 29 July, 2019

• GBPCHF broke major support level 1.2270
• Further losses are likely

GBPCHF today broke below the major support level 1.2270 – which has been reversing the price from the start of January.

The breakout of the support level 1.2270 continues the active short-term impulse waves (v) and 5.

GBPCHF is expected to fall further and retest the next key support level 1.2000 (target for the completion of the active impulse wave 5).