Source: PaxForex Premium Analytics Portal, Technical Insight
The near-term trajectory of the pound is shifted to the downside, although it is correcting quite decently. The Bank of England plus fiscal support could help strengthen the pound.
GBP/CHF,D1
Pivot: 1.1646
Analysis:
While the price is below 1.2000, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1646
- Take Profit 1: 1.1585
- Take Profit 2: 1.1500
Alternative scenario:
If the level of 1.2000 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2000
- Take profit 1: 1.2200
- Take profit 2: 1.2300
Comment:
RSI shows a bearish sentiment.
Key levels:
Resistance | Support |
1.2300 | 1.1585 |
1.2200 | 1.1500 |
1.2000 | 1.1450 |