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Pound day: strong uplift and consolidation

2022-07-26
1168
Fundamental analysis:

The pound remained volatile around 164.611 against the yen. According to the British Daily Telegraph, British Prime Minister Boris Johnson plans to meet with the president of Ukraine again before officially stepping down in September. It is reported that the news was disclosed after the two talked on July 22.


Gbpjpy - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the Bulls' momentum rose strongly, and they finished in the short term. The Bulls showed signs of continuing to move upward. The MACD index was in the short area, and the finishing was maintained and moved up slowly, and the RSI index was in the narrow finishing near the 50 equilibrium line;


Long short turning point: 164.489


Pressing position: 164.931, 165.296


Support position: 164.132, 163.799


Trading strategy: bullish above 164.489, target 164.931, 165.296


Alternative strategy: bearish below 164.489, target 164.132, 163.799

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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