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GBPUSD: bearish weakness shocks downward
2022-08-10
1249
Fundamental analysis:
GBP / USD fluctuated around 1.20723, and the market priced that the Bank of England would raise interest rates by 100 basis points in the remaining three meetings this year. The Bank of England may be able to meet the market's expectation of raising interest rates, but the possibility of insufficient cash is higher than the possibility of excessive cash, thus putting pressure on sterling.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term downward trend may continue. The MACD indicator maintains the consolidation and translation in the short-term area, and the RSI indicator hovers at the lower side of the 50 equilibrium line;
Long and short turning point: 1.20830
Pressing position: 1.21169, 1.21507
Support position: 1.20436, 1.20168
Trading strategy: bearish below 1.20830, target 1.20436, 1.20168
Alternative strategy: bullish above 1.20830, target 1.21169, 1.21507
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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