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GBPUSD: high strong pull up
2022-08-02
1227
Fundamental analysis:
GBP / USD remained volatile around 1.22402. GBP / USD rebounded from the range in mid July. The USD has been widely sold off in the past two weeks, benefiting many currencies, including GBP. Institutions doubt whether the rise of GBP / USD can withstand the Bank of England's interest rate decision and economic forecast update on Thursday.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bull momentum maintains a good momentum of shock and rise, and the short-term upward trend may continue. The market as a whole is relatively strong. MACD index is at the high level of the bull region, finishing and translating, and RSI index is at the long region, maintaining a narrow range;
Long short turning point: 1.22169
Pressing position: 1.22825, 1.23169
Support position: 1.21804, 1.21367
Trading strategy: bullish above 1.22169, targets 1.22825, 1.23169
Alternative strategies: bearish below 1.22169, targets 1.21804, 1.21367
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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