Source: PaxForex Premium Analytics Portal, Technical Insight
The UK economy expanded by 0.1% in the quarter in the final three months of 2022 vs. 0% prior, the final revision confirmed on Friday. The market consensus stood at 0% in the fourth quarter.
GBP/CHF,D1
Pivot: 1.1320
Analysis:
While the price is above 1.1280, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1320
- Take Profit 1: 1.1360
- Take Profit 2: 1.1400
Alternative scenario:
If the level of 1.1280 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1280
- Take profit 1: 1.1240
- Take profit 2: 1.1200
Comment:
RSI shows a bullish sentiment.
Key levels:
| Resistance | Support |
| 1.1450 | 1.1280 |
| 1.1400 | 1.1240 |
| 1.1360 | 1.1200 |
