Source: PaxForex Premium Analytics Portal, Technical Insight
BoE’s Bailey mostly stuck to the middle of recent scripts, though the BoE head did note some regret at the BoE’s complacency regarding recent financial stability risks.
Pivot: 197.06
Analysis:
As long as the price is above 194.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 194.92
- Take profit 1: 199.00
- Take Profit 2: 202.00
Alternative scenario:
If the level of 194.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 194.00
- Take profit 1: 192.00
- Take profit 2: 190.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 204.00 | 194.00 |
| 202.00 | 192.00 |
| 199.00 | 190.00 |
