GBPUSD: low wide weak shock

Fundamental analysis:

Sterling kept fluctuating around 1.15144 against the US dollar. Truss won the Conservative Party leadership election and will become the next prime minister of Britain. Tesla proposed tax cuts in the first step of implementing the new deal and is considering supporting measures to offset the increase in energy expenditure. These measures may further increase the upward pressure of inflation and expand the budget deficit. For the pound, a looser fiscal policy may bring a short-term boost.

GBPUSD GBPUSD - 4-hour K-line chart shows:

Technical analysis:

From the 4-hour chart, we can see that the market is in a low and wide range in the short term, the market is shrouded in short sentiment, the final direction has not been given yet, the MACD index is in the short area, and the RSI index is in the weak position below the 50 equilibrium line;

Long and short turning point: 1.15232

Pressing position: 1.15675, 1.16090

Support position: 1.14727, 1.14230

Trading strategy: bearish below 1.15232, targets 1.14727, 1.14230

Alternative strategy: bullish above 1.15232, target 1.15675, 1.16090