GBPCHF currency under the bearish pressure after it reversed down from the powerful resistance area lying between the long-term resistance level 1.28000 (which has been steadily reversing the pair from the middle of April) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous intermediate impulse wave (3). Given the strong sterling bearishness seen across the FX markets today – GBPCHF currency pair can be expected to fall further toward the next support level 1.26600 (low of the previous intermediate correction (2)).