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GBPCHF just reversed down from the resistance level 1.21000 (former multi month low from last October) standing near the 50% Fibonacci retracement of the previous downward impulse wave from December of 2019. The downward reversal from the resistance level 1.21000 started the active short term correction (ii). GBPCHF is likely to correct down further toward the next support level 1.18500 (former support from the end of March, which is also the former monthly low from September).
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