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Pound and us: short positions step down
2022-07-04
1369
Fundamental analysis:
GBP / USD remained volatile around 1.20947. With the disappearance of temporary fiscal stimulus measures in the second half of 22, the continuous stagnation of real income, coupled with the tightening policy of the Bank of England and the slowdown in the growth of trading partners, the GDP growth rate will reach 3.4% in 2022 and then fall to 0.5% in 2023.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bearish power continues. The lower rail section of the Bollinger belt index channel continues to vibrate downward, and the low level falls below the nodes near the lower rail and quickly rises. The Bollinger belt index moves downward, and the trend of the interval is good. The MACD index is below the 0 axis, and the short area remains sorted out, and the RSI index is under the 50 equilibrium line and hovers in a narrow range;
Long short turning point: 1.21162
Pressing position: 1.21659, 1.22181
Support position: 1.20483, 1.20000
Trading strategy: bearish below 1.21162, target 1.20483, 1.20000
Alternative strategies: bullish above 1.21162, targets 1.21659, 1.22181
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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