Source: PaxForex Premium Analytics Portal, Technical Insight
The British pound has weakened over the past month as growing economic pressures worsen the outlook. Economists at the National Bank of Canada expect that the British pound's appreciation will remain limited in the near term.
GBP/CHF,D1
Pivot: 1.1618
Analysis:
While the price is below 1.1750, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1618
- Take Profit 1: 1.1500
- Take Profit 2: 1.1400
Alternative scenario:
If the level of 1.1750 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1750
- Take profit 1: 1.1860
- Take profit 2: 1.2000
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.2000 | 1.1500 |
| 1.1860 | 1.1400 |
| 1.1750 | 1.1350 |
