Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of England Chief Economist Hugh Pill said on Thursday that it cannot be taken for granted that monetary policy tools such as QE are also the right ones to address market dysfunction, according to Reuters.
GBP/CHF,D1
Pivot: 1.2206
Analysis:
While the price is above 1.2250, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2206
- Take Profit 1: 1.2530
- Take Profit 2: 1.2654
Alternative scenario:
If the level 1.2250 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2250
- Take profit 1: 1.2144
- Take profit 2: 1.2027
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.2731 | 1.2250 |
| 1.2654 | 1.2144 |
| 1.2530 | 1.2027 |
