Source: PaxForex Premium Analytics Portal, Technical Insight
The Office of National Statistics (ONS) in the UK reported that the economy fell into a recession at the end of 2023.
GBP/CHF,D1
Pivot: 1.1083
Analysis:
While the price is above 1.0850, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1083
- Take Profit 1: 1.1100
- Take Profit 2: 1.1200
Alternative scenario:
If the level of 1.0850 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0850
- Take profit 1: 1.0700
- Take profit 2: 1.0600
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1300 | 1.0850 |
| 1.1200 | 1.0700 |
| 1.1100 | 1.0600 |
