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GBPUSD: high short shock downward
2022-08-04
1224
GBPUSD EURUSD
Fundamental analysis:
GBP / USD remained volatile around 1.21419. How to raise interest rates by 115 basis points during the interest rate hike cycle without weakening inflation expectations is a question raised by the market before the Bank of England meeting today and Thursday. The five-year inflation swap denominated in sterling is now slightly up to 3.75%, close to the level when the Bank of England began raising interest rates last December.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the momentum of high short positions remained volatile and the downward trend was good, and there was no sign of stopping in the short-term decline. The MACD index was in the long area, maintained consolidation and slowly declined, and the RSI index was in the weak position below the 50 equilibrium line;
Long short turning point: 1.21577
Pressing position: 1.21918, 1.22196
Support position: 1.21120, 1.20821
Trading strategy: bearish below 1.21577, target 1.21120, 1.20821
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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