Source: PaxForex Premium Analytics Portal, Technical Insight
UK QoQ GDP growth is expected to tick down to 0.6% from the previous 0.7%, while annualized UK GDP is expected to rebound to 0.9% from the previous 0.3%.
Pivot: 1.7611
Analysis:
While the price is above 1.7700, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7611
- Take Profit 1: 1.7400
- Take Profit 2: 1.7300
Alternative scenario:
If level 1.7700 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7700
- Take profit 1: 1.7900
- Take Profit 2: 1.8100
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.8100 | 1.7400 |
| 1.7900 | 1.7300 |
| 1.7700 | 1.7200 |
