Source: PaxForex Premium Analytics Portal, Technical Insight
According to the latest data published by the UK’s National Statistics, the final Gross Domestic Product (GDP) for the second quarter came in at 0.2% QoQ, matching the initial estimate of 0.2% and following a 0.2% expansion in the previous reading.
.GBP/CHF,D1
Pivot: 1.1165
Analysis:
While the price is below 1.1240, follow the recommendations below:
- Time frame: D1
- Recommendation: shorts position
- Entry point: 1.1165
- 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 |
