Source: PaxForex Premium Analytics Portal, Technical Insight
The British Pound (GBP) continues to draw support from the Bank of England's (BoE) decision on Thursday to keep interest rates unchanged and run down its stock of government bonds by another £100 billion over the coming 12 months.
GBP/CHF,D1
Pivot: 1.1252
Analysis:
While the price is below 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1252
- Take Profit 1: 1.1400
- Take Profit 2: 1.1500
Alternative scenario:
If the level of 1.1100 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1100
- Take profit 1: 1.1000
- Take profit 2: 1.1900
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1600 | 1.1100 |
| 1.1500 | 1.1000 |
| 1.1400 | 1.0900 |
