GBP/CHF Wave Analysis: Pound Approaches 1.1100 Resistance After Breakout

The GBP/CHF pair has recently breached a resistance zone situated between the 1.1000 level—which previously stalled impulse waves 1 and (1)—and the resistance trendline of the daily Triangle from August.

This breakout has accelerated the earlier minor impulse wave 3, which belongs to the intermediate impulse wave (3) originating from the middle of last month.

Supported by a strong daily uptrend and bearish Swiss franc sentiment across FX markets, the pair is expected to rise to the next resistance level at 1.1100.

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