Source: PaxForex Premium Analytics Portal, Technical Insight
Today’s UK retail sales numbers for December could take some of the edge of this week’s surge in yields, although the UK consumer was able to spend in the lead-up to Christmas, albeit in a discerning manner.
GBP/CHF,D1
Pivot: 1.1010
Analysis:
While the price is above 1.0850, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1010
- 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 |
