Source: PaxForex Premium Analytics Portal, Technical Insight
Analysts at Morgan Stanley offer their bearish outlook on the British pound, expecting the Bank of England (BOE) to lean towards a dovish reversal in the coming months.
GBP/CHF,D1
Pivot: 1.2103
Analysis:
While the price is below 1.2275, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2103
- Take Profit 1: 1.2050
- Take Profit 2: 1.1980
Alternative scenario:
If the level 1.2275 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2275
- Take profit 1: 1.2400
- Take profit 2: 1.2500
Comment:
RSI shows a bearish sentiment.
Key levels:
Resistance | Support |
1.2500 | 1.2050 |
1.2400 | 1.1980 |
1.2275 | 1.1830 |