GBPCHF recently broke through the support zone located between the support level 1.26600 (which has been reversing the price from the middle of October) and the 38.2% Fibonacci correction level of the previous sharp ABC correction (B) from August. Given the rising bullish sentiment affecting the Swiss Franc today – GBPCHF is likely remain under the bearish pressure and to extend the losses in the active impulse waves 3 and (C) toward the next support level 1.25000 (former resistance from September and the target for the completion of the active impulse wave (iii)).