$GBPCHF Correction Due

The rise from 1.4139 is impulsive (5 waves). This implies the trend is up. However, after 5 waves a correction is due. Ideal entry zone is between the 38.2% and 61.8% Fibonacci retracement levels. Areas in blue are real support. Wave count invalidation is all the way down at 1.4139. This analysis is being made to supplement the Technician's 4th Trade and provide Elliott Wave perspective.