Source: PaxForex Premium Analytics Portal, Technical Insight
The industrial sector activity showed no growth in December, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Friday.
GBP/CHF,D1
Pivot: 1.1166
Analysis:
While the price is above 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1166
- Take Profit 1: 1.1270
- Take Profit 2: 1.1400
Alternative scenario:
If the level of 1.1100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1100
- Take profit 1: 1.1000
- Take profit 2: 1.1090
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1500 | 1.1100 |
| 1.1400 | 1.1000 |
| 1.1270 | 1.0900 |
