Source: PaxForex Premium Analytics Portal, Technical Insight
The former chief economist of the Bank of England has warned there is “more pain to come” for households and the wider economy as mortgage rate increases hit people’s bank accounts and weigh on spending.
GBP/CHF,D1
Pivot: 1.1409
Analysis:
While the price is above 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1409
- Take Profit 1: 1.1500
- Take Profit 2: 1.1600
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: 1.1000
- Take profit 2: 1.1090
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1700 | 1.1100 |
| 1.1600 | 1.1000 |
| 1.1500 | 1.0900 |
