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Pound day: short-term consolidation down
2022-07-05
1233
Fundamental analysis:
Sterling remained volatile around 164.362 against the yen, and the Bank of England's current policy rate is 50 basis points lower than the Federal Reserve. Andrew, governor of the Bank of England? Bailey's tone was also moderate, saying that the central bank did not necessarily have to take "strong" action to control inflation. Expectations of a larger interest rate hike have eased.
Gbpjpy - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term V-shaped reversal moves upward to the nodes near the middle rail of the Bollinger belt index, and the Bollinger belt index is in the closing trend. The MACD index is in the short area, maintaining the weak consolidation and moving upward, and the RSI index is in the weak hovering below the 50 equilibrium line;
Long short turning point: 164.709
Pressing position: 165.484, 166.174
Support position: 163.555, 162.886
Trading strategy: bearish below 164.709, target 163.555, 162.886
Alternative strategy: bullish above 164.709, target 165.484, 166.174
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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