Source: PaxForex Premium Analytics Portal, Technical Insight
The diminishing odds for more aggressive interest rate cuts by the Bank of England (BoE), could offer some support to the GBP.
Pivot: 1.8036
Analysis:
While the price is above 1.7800, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.8036
- Take Profit 1: 1.8100
- Take Profit 2: 1.8200
Alternative scenario:
If level 1.7800 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.7800
- Take profit 1: 1.7700
- Take Profit 2: 1.7600
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.8400 | 1.7800 |
| 1.8300 | 1.7700 |
| 1.8100 | 1.7600 |
