Source: PaxForex Premium Analytics Portal, Technical Insight

Investors’ confidence in the UK economy's outlook improved after the preliminary PMI report from S&P Global/CIPS for April showed that new business volumes increased across the private sector as a whole.

GBP/CHF,D1

Pivot: 1.1414

Analysis:

While the price is above 1.1200, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1414
• Take Profit 1: 1.1500
• Take Profit 2: 1.1600

Alternative scenario:

If the level of 1.1200 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1200
• Take profit 1: 1.1100
• Take profit 2: 1.1000

Comment:

RSI shows a bullish sentiment.

Key levels: