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Johnson does not trust the vote to increase the reasons for the weakening of the pound

2022-06-09
1000
Fundamental analysis:

GBP / USD remained volatile around 1.25270. Johnson had won the party's vote of no confidence with 211 votes to 148, and was able to continue to serve as British Prime Minister for the time being. But his party approval rating was much lower than expected. Johnson's "disastrous victory" may be the "beginning of the end" of his leadership, but this is an empty victory, adding to the reasons for the weakness of the pound.


GBPUSD GBPUSD - 4-hour K-line chart display:




Technical comments: it has been kept in the wide vibration in the Bollinger belt index channel for a long time. During this period, it has repeatedly spied the nodes of the upper and lower rail sections. The Bollinger belt index shows signs of closing after it is in a translational trend. The MACD index is in a weak position near the 0 axis, and the RSI index is in a narrow range near the 50 equilibrium line;


Multi empty turning point: 1.25399


Pressing position: 1.25748, 1.26098


Support position: 1.24957, 1.24576


Trading strategy: bearish below 1.25399, target 1.24957, 1.24576


Alternative strategy: bullish above 1.25399, target 1.25748, 1.26098


The above analysis is a personal point of view and is for reference only.

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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