GBP/CHF | British Pound to Swiss Franc Trading Analysis
GBP/CHF | British Pound to Swiss Franc Trading Analysis
Written by: PaxForex analytics dept - Friday, 26 May 2023 0 comments
Source: PaxForex Premium Analytics Portal, Technical Insight
On the Pound Sterling front, investors are awaiting the release of the United Kingdom Retail Sales data (April). As per the preliminary report, monthly Retail Sales are seen expanding by 0.3% against a contraction of 0.9% reported last month.
GBP/CHF,D1
Pivot: 1.1159
Analysis:
While the price is above 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1159
- Take Profit 1: 1.1240
- Take Profit 2: 1.1320
Alternative scenario:
If the level of 1.1100 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1100
- Take profit 1: 1.1050
- Take profit 2: 1.1000
Comment:
RSI shows a bearish sentiment.
Key levels:
Resistance | Support |
1.1400 | 1.1100 |
1.1320 | 1.1050 |
1.1240 | 1.1000 |