Source: PaxForex Premium Analytics Portal, Technical Insight
The upside of the GBP could be limited due to increased risk aversion amid rising Middle-East tensions.
Pivot: 1.7444
Analysis:
While the price is above 1.7600, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7444
- Take Profit 1: 1.7300
- Take Profit 2: 1.7200
Alternative scenario:
If level 1.7600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7600
- Take profit 1: 1.7700
- Take Profit 2: 1.7800
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7800 | 1.7300 |
| 1.7700 | 1.7200 |
| 1.7600 | 1.7100 |
