Source: PaxForex Premium Analytics Portal, Technical Insight
The UK economy grew by 0.2% in August, rebounding from a revised 0.6% decline in July. The gain of 0.2% matched market expectations and the British pound is showing little reaction..
GBP/CHF,D1
Pivot: 1.1122
Analysis:
While the price is below 1.1220, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1062
- Take Profit 1: 1.1025
- Take Profit 2: 1.0980
Alternative scenario:
If the level of 1.1220 is broken-out, follow the recommendations below::
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1220
- Take profit 1: 1.1275
- Take profit 2: 1.1325
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1325 | 1.1025 |
| 1.1275 | 1.0980 |
| 1.1220 | 1.0900 |
