Source: PaxForex Premium Analytics Portal, Technical Insight
The BoE is expected to cut rates for the first time in more than four years at its policy meeting next week.
GBP/CHF,D1
Pivot: 1.1339
Analysis:
While the price is above 1.1400, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1399
- Take Profit 1: 1.1200
- Take Profit 2: 1.1100
Alternative scenario:
If the level of 1.1400 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1400
- Take profit 1: 1.1500
- Take profit 2: 1.1600
Comment:
RSI shows a bearish sentiment.
Key levels:
| Resistance | Support |
| 1.1600 | 1.1200 |
| 1.1500 | 1.1100 |
| 1.1400 | 1.1000 |