Source: PaxForex Premium Analytics Portal, Technical Insight
The Pound Sterling (GBP) weakened on comments by The Bank of England (BoE) Governor Andrew Baily, saying that rates could continue to rise, hurting the British economy.
GBP/CHF,D1
Pivot: 1.1346
Analysis:
While the price is above 1.1250, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1346
- Take Profit 1: 1.1450
- Take Profit 2: 1.1500
Alternative scenario:
If the level of 1.1250 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1250
- Take profit 1: 1.1150
- Take profit 2: 1.1075
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1650 | 1.1250 |
| 1.1550 | 1.1150 |
| 1.1450 | 1.1075 |
