GBPCHF under bearish pressure after the earlier breakout of the pivotal support level 1.21000 (former monthly high from August and monthly low from October). The breakout of the support level 1.21000 accelerated the active impulse waves 3 and (c)- which belong to the sharp multi-month downward impulse sequence (C) from last December. Given the rising bullish Swiss Franc sentiment seen across the markets today – GBPCHF is likely to fall further toward the next support level 1.18450 (former monthly low from September and the target for the completion of the active impulse wave 3).