Source: PaxForex Premium Analytics Portal, Technical Insight
The UK Gross Domestic Product came in at 0% in April after growing 0.4% in March, in line with the market consensus.
Pivot: 1.7562
Analysis:
While the price is above 1.7300, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7562
- Take Profit 1: 1.7600
- Take Profit 2: 1.7700
Alternative scenario:
If level 1.7300 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7300
- Take profit 1: 1.7200
- Take Profit 2: 1.7100
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7800 | 1.7300 |
| 1.7700 | 1.7200 |
| 1.7600 | 1.7100 |
