Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of England looks pretty backward in terms of fighting inflation, although it is ready to tighten further despite the expected recession - Commerzbank.
GBP/CHF,D1
Pivot: 1.1401
Analysis:
While the price is below 1.1750, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1401
- Take Profit 1: 1.1300
- Take Profit 2: 1.1200
Alternative scenario:
If the level of 1.1750 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1750
- Take profit 1: 1.1860
- Take profit 2: 1.2000
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.2000 | 1.1300 |
| 1.1860 | 1.1200 |
| 1.1750 | 1.1100 |
