Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of England held a cautious rate hike. GBP began to retreat from intraday highs, reflecting some disappointment with the prospects of the Bank of England. Risks favor GBP lagging behind the U.S. dollar and euro, according to TD Securities economists.
GBP/CHF,D1
Pivot: 1.2162
Analysis:
While the price is above 1.2285, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2323
- Take Profit 1: 1.2530
- Take Profit 2: 1.2654
Alternative scenario:
If the level 1.2285 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2285
- Take profit 1: 1.2144
- Take profit 2: 1.2027
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.2731 | 1.2285 |
| 1.2654 | 1.2144 |
| 1.2530 | 1.2027 |
