Source: PaxForex Premium Analytics Portal, Technical Insight
The flash estimate for the UK S&P Global/CIPS Manufacturing purchasing managers’ index (PMI) for November clocked in at 46.7. This was a step up from October’s 44.8, as well as analyst estimates of 45. Although output was still contracting, it was at the slowest rate in five months.
GBP/CHF,D1
Pivot: 1.1067
Analysis:
While the price is above 1.0900, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1067
- Take Profit 1: 1.1100
- Take Profit 2: 1.1200
Alternative scenario:
If the level of 1.0900 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0900
- Take profit 1: 1.0800
- Take profit 2: 1.0700
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1200 | 1.0900 |
| 1.1100 | 1.0800 |
| 1.1000 | 1.0700 |
