Source: PaxForex Premium Analytics Portal, Technical Insight
Scotiabank economists expect the cable to move lower as the Bank of England has little room to restore monetary policy expectations.
GBP/CHF,D1
Pivot: 1.2112
Analysis:
While the price is above 1.2100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.22112
- Take Profit 1: 1.2295
- Take Profit 2: 1.2530
Alternative scenario:
If the level 1.2100 is broken-down, follow the recommendations below
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2100
- Take profit 1: 1.2027
- Take profit 2: 1.1920
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.2652 | 1.2027 |
| 1.2530 | 1.1920 |
| 1.2295 | 1.1850 |
