Source: PaxForex Premium Analytics Portal, Technical Insight
The Pound took a beating after a recent quarter-point rate cut from the BoE, and markets are on the lookout for signs of further UK rate cuts.
GBP/CHF,D1
Pivot: 1.1063
Analysis:
While the price is below 1.1200, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1063
- Take Profit 1: 1.1000
- Take Profit 2: 1.0900
Alternative scenario:
If the level of 1.1200 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.12000
- Take profit 1: 1.1300
- Take profit 2: 1.1400
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1400 | 1.1000 |
| 1.1300 | 1.0900 |
| 1.1200 | 1.0800 |
