Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of England interest rate decision still on a knife-edge despite rise in inflation.
GBP/CHF,D1
Pivot: 1.2490
Analysis:
While the price is below 1.2607, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2490
- Take Profit 1: 1.2400
- Take Profit 2: 1.2250
Alternative scenario:
If the level 1.2607 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2607
- Take profit 1: 1.2823
- Take profit 2: 1.2951
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.2951 | 1.2400 |
| 1.2823 | 1.2250 |
| 1.2607 | 1.2145 |
