Source: PaxForex Premium Analytics Portal, Technical Insight
The UK economy seems to narrowly avoid a negative GDP growth in Q1 as well as the February print showed +0.1% on a 3M/3M basis at same time as the data from January was revised higher.
GBP/CHF,D1
Pivot: 1.1150
Analysis:
While the price is below 1.1200, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1150
- Take Profit 1: 1.1075
- Take Profit 2: 1.1000
Alternative scenario:
If the level of 1.1200 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1200
- Take profit 1: 1.1285
- Take profit 2: 1.1320
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1320 | 1.1075 |
| 1.1285 | 1.1000 |
| 1.1200 | 1.0950 |
