Source: PaxForex Premium Analytics Portal, Technical Insight
Expectations that the Bank of England's (BoE) rate-cutting cycle is more likely to be slower than in the US continue to underpin the British Pound (GBP) and help limit losses for the currency pair.
Pivot: 1.7949
Analysis:
While the price is above 1.7700, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7949
- Take Profit 1: 1.8000
- Take Profit 2: 1.8100
Alternative scenario:
If level 1.7700 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7700
- Take profit 1: 1.7600
- Take Profit 2: 1.7500
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.8200 | 1.7700 |
| 1.8100 | 1.7600 |
| 1.8000 | 1.7500 |
