Source: PaxForex Premium Analytics Portal, Technical Insight

The Swiss National Bank (SNB) delivered a 75 bps rate hike at its September monetary policy meeting, bringing its policy rate to +0.50%.

GBP/CHF,D1

Pivot: 1.0977

Analysis:

While the price is below 1.1300, follow the recommendations below:

• me frame: D1
• Recommendation: short position
• Entry point: 1.0977
• Take Profit 1: 1.0900
• Take Profit 2: 1.0700

Alternative scenario:

If the level of 1.1300 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1300
• Take profit 1: 1.1530
• Take profit 2: 1.1650

Comment:

RSI shows a bearish sentiment.

Key levels: