Source: PaxForex Premium Analytics Portal, Technical Insight
UK consumer inflation slowed from 6.8% to 6.7% y/y, contrary to the expected acceleration to 7.0%.
Pivot: 1.6614
Analysis:
While the price is below 1.6800, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6614
- Take Profit 1: 1.6580
- Take Profit 2: 1.6500
Alternative scenario:
If level 1.6800 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6800
- Take profit 1: 1.6900
- Take Profit 2: 1.7000
Comment:
RSI shows the possibility of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7100 | 1.6800 |
| 1.7000 | 1.6580 |
| 1.6900 | 1.6500 |
