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GBPCHF today broke the key support level 1.18000 (which has been steadily reversing the price from the middle of May). The breakout of the support level 1.18000 should accelerate the active impulse wave 3 – which belongs to wave (3) from the start of June. Given the strong bearish sterling sentiment seen across the markets today – GBPCHF is likely to fall further toward the next support level 1.16000 (target price for the completion of the active impulse wave 3).
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