Technical Overview
The GBPCHF cross is developing a corrective sequence after the bullish cycle started in January 2019, when the price found buyers at 1.22484. From this bottom, the price made an upward cycle in five waves reaching to the 1.34231 level.
Once GBPCHF found sellers at 1.34231, the price started a corrective as an A-B-C minor degree, which has pending the wave C (blue degree).
The potential target is in the zone of the March 2019 lows; it is between 1.30 to 1.291 area. The invalidation level is above the previous high ((v)) at 1.33944 level.
Remember that the price is not forced to move as our outlook suggests. The charts released corresponds to the Elliott Wave Theory application.
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