Source: PaxForex Premium Analytics Portal, Technical Insight
According to Westpac economists, surprisingly favorable business reports may support the pound, but it remains vulnerable as it consolidates.
GBP/CHF,D1
Pivot: 1.2103
Analysis:
While the price is below 1.2210, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2044
- Take Profit 1: 1.1980
- Take Profit 2: 1.1900
Alternative scenario:
If the level 1.2210 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2210
- Take profit 1: 1.2320
- Take profit 2: 1.2400
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.2400 | 1.1980 |
| 1.2320 | 1.1900 |
| 1.2210 | 1.1830 |
