This is probably a view of Lake Brienz towards Ringgenberg Castle, similar to that on folio 46 verso of this sketchbook (D04791). Combined, these two views may have been the basis of a chalk elaboration in the Grenoble series (Tate D04543; Turner Bequest LXXIV 50), which in turn was translated into a colour study, about 1809 (Tate D04896; Turner Bequest LXXX C). This last served for the finished watercolour made around the same time for Thomas Wright (Bowood Collection).1
Andrew Wilton, The Life and Work of J.M.W. Turner, Fribourg 1979, p.344 no.391.