Source: PaxForex Premium Analytics Portal, Technical Insight
The pound’s widespread weakness can be attributed to comments from Bank of England (BoE) Governor Andrew Bailey at the ECB Forum on Central Banking, in Sintra.
Pivot: 1.6755
Analysis:
While the price is above 1.6650, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.6755
- Take Profit 1: 1.6950
- Take Profit 2: 1.7150
Alternative scenario:
If level 1.6650 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.6650
- Take profit 1: 1.6410
- Take Profit 2: 1.6245
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.7300 | 1.6650 |
| 1.7150 | 1.6410 |
| 1.6950 | 1.6245 |
