Source: PaxForex Premium Analytics Portal, Technical Insight
Diminishing odds for a BoE rate cut in August to lend support ahead of UK Retail Sales.
GBP/CHF,D1
Pivot: 1.1499
Analysis:
While the price is above 1.1400, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1499
- Take Profit 1: 1.1600
- Take Profit 2: 1.1700
Alternative scenario:
If the level of 1.1400 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1400
- Take profit 1: 1.1300
- Take profit 2: 1.1200
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1800 | 1.1400 |
| 1.1700 | 1.1300 |
| 1.1600 | 1.1200 |
