Source: PaxForex Premium Analytics Portal, Technical Insight
The UK CPI inflation report could affirm expectations of a 25 bps interest-rate cut by the BoE in November, injecting a fresh bout of volatility into the Pound Sterling.
Pivot: 194.92
Analysis:
As long as the price is above 192.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 194.92
- Take profit 1: 197.00
- Take Profit 2: 199.00
Alternative scenario:
If the level of 192.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 192.00
- Take profit 1: 190.00
- Take profit 2: 188.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 200.00 | 192.00 |
| 199.00 | 190.00 |
| 197.00 | 188.00 |
