GBPCHF Wave Analysis

FxPro technical analysis points to a bullish continuation for the GBP/CHF currency pair following a key technical breakout. The pair has successfully breached the critical resistance zone situated around the 1.1000 level, an area that previously halted impulse waves 1 and (1), alongside clearing the upper resistance trendline of a daily Triangle formation that has developed since August. This upside breakout has accelerated the progression of minor impulse wave 3, which is nested within the broader intermediate impulse wave (3) that originated in mid-August. The technical structure confirms strengthening upward momentum for the pair. Given the strong prevailing daily uptrend and pervasive bearish sentiment surrounding the Swiss franc across broader foreign exchange markets, technical analysts project further upside potential. Market participants are advised to target the next major resistance level located at 1.1100.