Source: PaxForex Premium Analytics Portal, Technical Insight
According to the latest Bank of England (BoE) Monthly Decision Maker Panel (DMP) survey released on Thursday, DMP members expected CPI inflation to be 5.8% one-year ahead, down from 5.9% in February.
GBP/CHF,D1
Pivot: 1.1259
Analysis:
While the price is above 1.1220, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1259
- Take Profit 1: 1.1320
- Take Profit 2: 1.1400
Alternative scenario:
If the level of 1.1220 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1220
- Take profit 1: 1.1170
- Take profit 2: 1.1140
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1450 | 1.1220 |
| 1.1400 | 1.1170 |
| 1.1320 | 1.1140 |
