Source: PaxForex Premium Analytics Portal, Technical Insight
A string of weak economic indicators from the UK economy have dented expectations of more interest rate hikes from the Bank of England (BoE).
GBP/CHF,D1
Pivot: 1.0899
Analysis:
While the price is below 1.0900, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.0899
- Take Profit 1: 1.0700
- Take Profit 2: 1.0600
Alternative scenario:
If the level of 1.0900 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.0900
- Take profit 1: 1.1000
- Take profit 2: 1.1100
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1100 | 1.0700 |
| 1.1000 | 1.0600 |
| 1.0900 | 1.0500 |
