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GBPUSD: sustained shock pullback of short positions
2022-08-15
1132
Fundamental analysis:
GBP / USD fluctuated around 1.21397, and the Bank of England hopes to control inflation within a controllable range. However, everything depends on how Europe's energy crisis develops. However, the line of the Bank of England (raising interest rates) is not unchangeable, so the downside risk of sterling is still very high.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the driving force of high short positions continues to fluctuate downward, and there is a trend of continued downward movement in the short term. The market short sentiment starts to intervene. The MACD index is in the long position and keeps moving downward, and the RSI index is in the lower side of the 50 equilibrium line;
Long and short turning point: 1.21543
Pressing position: 1.21774, 1.22069
Support position: 1.21113, 1.20850
Trading strategy: bearish below 1.21543, target 1.21113, 1.20850
Alternative strategy: bullish above 1.21543, targets 1.21774 and 1.22069
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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