Source: PaxForex Premium Analytics Portal, Technical Insight
The UK Retail Sales arrived at -1.0% over the month in December vs. 0.5% expected and -0.5% previous. The Core Retail Sales, stripping the auto motor fuel sales, fell by 1.1% MoM vs. 0.4% expected and -0.3% previous.
GBP/CHF,D1
Pivot: 1.1325
Analysis:
While the price is above 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1325
- Take Profit 1: 1.1500
- Take Profit 2: 1.1600
Alternative scenario:
If the level of 1.1100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1100
- Take profit 1: 1.1000
- Take profit 2: 1.1090
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1700 | 1.1100 |
| 1.1600 | 1.1000 |
| 1.1500 | 1.0900 |
