Source: PaxForex Premium Analytics Portal, Technical Insight
The pound barely reacted to the UK budget and traders' attention will now shift to the Bank of England's monetary policy committee meeting on rate setting, which is due next Thursday.
GBP/CHF,D1
Pivot: 1.2576
Analysis:
While the price is above 1.2467, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.2576
- Take Profit 1: 1.2750
- Take Profit 2: 1.2998
Alternative scenario:
If the level 1.2467 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2467
- Take profit 1: 1.2227
- Take profit 2: 1.2083
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.3286 | 1.2467 |
| 1.3142 | 1.2227 |
| 1.2998 | 1.2083 |
