Source: PaxForex Premium Analytics Portal, Technical Insight
Market expectations for peak interest rates have fallen below 6 percent ahead of the Bank of England’s (BoE) rate-setting meeting next week. July data showed that the headline rate of UK inflation fell further than anticipated to 7.9 percent.
.GBP/CHF,D1
Pivot: 1.1113
Analysis:
While the price is below 1.1240, follow the recommendations below:
- Time frame: D1
- Recommendation: shorts position
- Entry point: 1.1113
- Take Profit 1: 1.1075
- Take Profit 2: 1.1025
Alternative scenario:
If the level of 1.1240 is broken-out , follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1240
- Take profit 1: 1.1275
- Take profit 2: 1.1325
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1325 | 1.1075 |
| 1.1275 | 1.1025 |
| 1.1240 | 1.0950 |
