Source: PaxForex Premium Analytics Portal, Technical Insight
The UK Retail Sales dropped 1.2% over the month in July vs. -0.5% expected and 0.6% prior, according to the latest data published by the Office for National Statistics (ONS) on Friday.
.GBP/CHF,D1
Pivot: 1.1173
Analysis:
While the price is below 1.1240, follow the recommendations below:
- Time frame: D1
- Recommendation: shorts position
- Entry point: 1.1173
- Take Profit 1: 1.1075
- Take Profit 2: 1.1025
Alternative scenario:
If the level of 1.1240 is broken-out , follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1240
- Take profit 1: 1.1275
- Take profit 2: 1.1325
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1325 | 1.1075 |
| 1.1275 | 1.1025 |
| 1.1240 | 1.0950 |
