Source: PaxForex Premium Analytics Portal, Technical Insight
Britain’s industrial sector recovery lacked momentum in October, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Friday.
GBP/CHF,D1
Pivot: 1.2224
Analysis:
While the price is below 1.2524, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2224
- Take Profit 1: 1.2100
- Take Profit 2: 1.1886
Alternative scenario:
If the level 1.2524 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2524
- Take profit 1: 1.2822
- Take profit 2: 1.2998
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.2998 | 1.2100 |
| 1.2822 | 1.1886 |
| 1.2524 | 1.1709 |
