Source: PaxForex Premium Analytics Portal, Technical Insight

UK economic activity remained strong in November despite supply shortages and rising price pressures, according to closely watched business surveys that will reinforce the case for the Bank of England to raise interest rates in December.

GBP/CHF,D1

Pivot: 1.2397

Analysis:

While the price is below 1.2607, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2397
• Take Profit 1: 1.2300
• Take Profit 2: 1.2250

Alternative scenario:

If the level 1.2607 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2607
• Take profit 1: 1.2823
• Take profit 2: 1.2951

Comment:

RSI shows a bearish sentiment.

Key levels: