Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of England (BoE) Deputy Governor Sarah Breeden said on Wednesday that she is less concerned that the bank rate might need to be tightened further.
Pivot: 1.6997
Analysis:
While the price is above 1.6900, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6997
- Take Profit 1: 1.7200
- Take Profit 2: 1.7300
Alternative scenario:
If level 1.6900 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6900
- Take profit 1: 1.6800
- Take Profit 2: 1.6700
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7400 | 1.6900 |
| 1.7300 | 1.6800 |
| 1.7200 | 1.6700 |
