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Pound day: high shock retreat
2022-07-22
1220
Fundamental analysis:
Sterling remained volatile around 164.453 against the yen. Bank of England governor Bailey showed a hawkish position. At the meetings on August 4 and September 15, the Bank of England raised interest rates by 50 basis points (higher than the previous 25 basis points).
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the high short power maintained a narrow consolidation and moved down, the short-term short power continued to move down, the MACD index was in the long area, maintained a weak downward movement, and the RSI index hovered below the 50 equilibrium line;
Long short turning point: 164.621
Pressing position: 165.056, 165.574
Support position: 164.062, 163.705
Trading strategy: bearish below 164.621, target 164.062, 163.705
Alternative strategy: bullish above 164.621, target 165.056, 165.574
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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