Source: PaxForex Premium Analytics Portal, Technical Insight
UK Finance Minister Jeremy Hunt announced the Autumn Forecast Statement on Wednesday, stating that “we will reduce debt, cut taxes, reward work in this statement.”
Pivot: 1.7093
Analysis:
While the price is above 1.7000, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.7093
- Take Profit 1: 1.7200
- Take Profit 2: 1.7300
Alternative scenario:
If level 1.7000 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7000
- Take profit 1: 1.6900
- Take Profit 2: 1.6800
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7400 | 1.7000 |
| 1.7300 | 1.6900 |
| 1.7200 | 1.6800 |
