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GBPUSD: short low strong decline
2022-08-22
1156
Fundamental analysis:
GBP / USD fluctuated around 1.18101. Although the situation has not been optimistic since last summer, it is good for the Bank of England that the UK retail sales data in July remained good. In terms of details, the increase in the monthly rate of retail sales after the quarter adjustment was mainly due to the increase of 4.8% in non store retail (mainly online retailers) last month.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term strength continues to decline, the low-level weak shock moves downward, and the short-term decline shows no sign of stopping. The MACD indicator is in the short-term region, and the RSI indicator is at the bottom of the short-term region;
Long and short turning point: 1.18261
Pressing position: 1.18590, 1.18883
Support position: 1.17762, 1.17480
Trading strategy: bearish below 1.18261, target 1.17762, 1.17480
Alternative strategy: bullish above 1.18261, target 1.18590, 1.18883
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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