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GBPUSD: bearish shock downward
2022-08-05
1243
Fundamental analysis:
GBP / USD remained volatile around 1.21543, and the Bank of England raised interest rates by 50 basis points to 1.75% as scheduled, the largest single rate increase since 1995, but it is predicted that the peak inflation will be higher and the economy will decline in the fourth quarter.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high short momentum remained volatile and the downward trend was good, the short-term decline had not yet shown any sign of final stop, the MACD index hovered below the 0 axis, and the RSI index was weak near the 50 equilibrium line;
Long short turning point: 1.21577
Pressing position: 1.21918, 1.22196
Support position: 1.21208, 1.20940
Trading strategy: bearish below 1.21577, targets 1.21208, 1.20940
Alternative strategies: bullish above 1.21577, targets 1.21918, 1.22196
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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