The GBP/CHF currency pair has shown notable movement recently, with factors like Swiss franc strength and UK inflation impacting its trading dynamics. Currently, GBP/CHF trades near the 1.12 level, reflecting a broader market trend where the British pound is weighed down by UK’s inflation concerns and broader risk sentiment, while the Swiss franc benefits from its safe-haven status. Forecasts for the pound against the franc indicate a modest outlook for December 2024, with anticipated trading ranges around 1.11 to 1.15 as investors assess potential central bank interventions on both sides.

British Pound Sterling Swiss Franc traded at 1.12504 this Wednesday November 6th, increasing 0.00030 or 0.02 percent since the previous trading session. Looking back, over the last four weeks, GBPCHF gained 0.62 percent. Over the last 12 months, its price rose by 1.64 percent. Looking ahead, we forecast British Pound Sterling Swiss Franc to be priced at 1.12131 by the end of this quarter and at 1.12352 in one year.

The Elliot Wave cart above shows that GBPCHF could be making an ABC. The move from 1.07 to 1.137 has unfolded in a 3 waves signifying wave A, the move following that is sideways and potentially a wave B with target around 1.103 region.