Source: PaxForex Premium Analytics Portal, Technical Insight
BoE officials have been sending hawkish signals throughout the week, providing a boost to the GBP. There is an estimate that the BoE will maintain higher interest rates for an extended period, especially considering that inflation is currently more than twice the central bank's target.
GBP/CHF,D1
Pivot: 1.1049
Analysis:
While the price is above 1.0900, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1049
- Take Profit 1: 1.1100
- Take Profit 2: 1.1200
Alternative scenario:
If the level of 1.0900 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0900
- Take profit 1: 1.0800
- Take profit 2: 1.0700
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1200 | 1.0900 |
| 1.1100 | 1.0800 |
| 1.1000 | 1.0700 |
