Source: PaxForex Premium Analytics Portal, Technical Insight
After more than a year of warnings, Bank of England Governor Andrew Bailey says the UK is now experiencing a wage-price spiral despite 12 consecutive central bank interest rate hikes.
GBP/CHF,D1
Pivot: 1.1218
Analysis:
While the price is below 1.1200, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1218
- Take Profit 1: 1.1320
- Take Profit 2: 1.1360
Alternative scenario:
If the level of 1.1200 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1200
- Take profit 1: 1.1160
- Take profit 2: 1.1120
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1400 | 1.1200 |
| 1.1360 | 1.1160 |
| 1.1320 | 1.1120 |
