Source: PaxForex Premium Analytics Portal, Technical Insight
As expected, the Bank of England (BoE) decided to keep the Bank Rate (key policy rate) unchanged at 5.25%. 6 members voted for an unchanged decision, including the newest member Sarah Breeden, while 3 members voted for an increase of 25bp.
GBP/CHF,D1
Pivot: 1.0934
Analysis:
While the price is above 1.0800, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0934
- Take Profit 1: 1.1000
- Take Profit 2: 1.1100
Alternative scenario:
If the level of 1.0800 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0800
- Take profit 1: 1.0700
- Take profit 2: 1.0600
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1200 | 1.0800 |
| 1.1100 | 1.0700 |
| 1.1000 | 1.0600 |
