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GBPUSD: short shock down
2022-08-09
1171
Fundamental analysis:
GBP / USD fluctuated around 1.20744. British Prime Minister candidate trass may ask the Bank of England to abandon its 2% inflation target and instead make efforts to promote economic growth.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of high-level short positions maintains a downward trend, and the short-term downward trend has not stopped. The overall downward movement trend of the market is short-term or will continue. The MACD indicator maintains a consolidation and translation in the short position, 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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