September 11, 2020 at 03:23PM

• GBPCHF approached key support level 1.1600

• Likely to fall to 1.1500

GBPCHF has been falling strongly in the last few trading sessions –  in line with the earlier report for this currency pair.

The price is currently trading close to the strong support level 1.1600 (which stopped the sharp downward impulse wave 1 at the end of June).

If the pair breaks below the support level 1.1600 – GBPCHF can then test the next support level 1.1500. In the alternative scenario the price is likely to test the resistance at 1.1750 (former powerful support from July).

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From: The FxPro Tech Analysis Team
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