Source: PaxForex Premium Analytics Portal, Technical Insight
Head of the Bank of England Bailey: The size of the Bank of England's balance sheet will be a major concern over the next 5 years.
GBP/USD,D1
Pivot: 1.4116
Analysis:
While the price is above 1.3970, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4116
- Take Profit 1: 1.4240
- Take Profit 2: 1.4380
Alternative scenario:
If the level 1.3970 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3970
- Take Profit 1: 1.3800
- Take Profit 2: 1.3670
Comment:
RSI shows the development of an uptrend in a medium term.
Key levels:
Resistance | Support |
1.4500 | 1.3970 |
1.4380 | 1.3800 |
1.4240 | 1.3670 |