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Pound day: strong pull up

2022-07-28
1213
Fundamental analysis:

The pound remained volatile around 165.958 against the yen, and the Bank of England's interest rate meeting will also be held on August 4. The Bank of England may avoid a larger interest rate increase in August, but stick to a mild rate rise of 25 basis points.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


Looking at the 4-hour chart: the bull momentum maintained a concussion and upward trend, with a short-term rise or a continuation. After a short-term breakthrough of the previous high, it began to sort out. The MACD index was in the bull region, maintained a narrow range of consolidation and upward movement, and the RSI index was in the 50 balanced online side;


Turning point of long and short: 165.806


Pressing position: 166.241, 166.540


Support position: 165.516, 165.183


Trading strategy: bullish above 165.806, target 166.241, 166.540


Alternative strategy: bearish below 165.806, target 165.516, 165.183

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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