Source: PaxForex Premium Analytics Portal, Technical Insight
Expectations of a hawkish shift from the Bank of England caused the closing of short positions with the pound.
GBP/USD,D1
Pivot: 1.3809
Analysis:
While the price is below 1.4075, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3809
- Take Profit 1: 1.3670
- Take Profit 2: 1.3500
Alternative scenario:
If the level 1.4075 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4075
- Take Profit 1: 1.4240
- Take Profit 2: 1.4380
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4380 | 1.3670 |
| 1.4240 | 1.3500 |
| 1.4075 | 1.3300 |
