Source: PaxForex Premium Analytics Portal, Technical Insight

Escalating UK inflation and continued labor market tensions, at least in the near term, are changing the trends of the yield spread.

GBP/CHF,D1

Pivot: 1.2121

Analysis:

While the price is below 1.2275, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2121
• Take Profit 1: 1.2050
• Take Profit 2: 1.1980

Alternative scenario:

If the level 1.2275 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2275
• Take profit 1: 1.2400
• Take profit 2: 1.2500

Comment:

RSI shows a bearish sentiment.

Key levels: