Source: PaxForex Premium Analytics Portal, Technical Insight
The Times’ news suggesting UK Prime Minister’s readiness for halving financial support on energy bills for businesses, amid concerns about the cost, seemed to have exerted downside pressure on GBP.
GBP/CHF,D1
Pivot: 1.1127
Analysis:
While the price is above 1.1070, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1127
- Take Profit 1: 1.1350
- Take Profit 2: 1.1500
Alternative scenario:
If the level of 1.1070 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1070
- Take profit 1: 1.1090
- Take profit 2: 1.0600
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1700 | 1.1070 |
| 1.1500 | 1.0900 |
| 1.1350 | 1.0600 |
