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Bank of England should raise interest rate
2022-06-16
1086
Fundamental analysis:
The pound remained volatile around 162.848 against the yen. Economists and former policy makers said that the Bank of England should abandon its cautious stance this week and significantly accelerate the pace of interest rate hike to combat runaway inflation. All but one member of the shadow monetary policy committee said that the Bank of England should raise interest rates from 25 basis points to 50 basis points this month.
Gbpjpy - 4-hour K-line chart display:
Technical comments: the short power continued to fluctuate downward in the middle and lower track of the Bollinger belt index channel. After reaching the node near 161.305 at a low level, it was supported and reorganized. In the short term, the Bollinger belt index showed a closing trend. The MACD index remained weak at a low level in the short area, and the RSI index remained narrow in the short area;
Multi empty turning point: 162.928
Pressing position: 163.882, 164.758
Support position: 161.872, 160.996
Trading strategy: down 162.928, target 161.872, 160.996
Alternative strategy: bullish above 162.928, target 163.882, 164.758
The above analysis is a personal point of view and is for reference only.
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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