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Pound United States: high order down

2022-07-19
1162
Fundamental analysis:

Sterling retreated to 1.19478 against the US dollar, which fluctuated around it. Depressed by the strength of the US dollar, sterling had to bow down and slide down. Inflation in the UK also soared to 9.1%. The Bank of England also released the message of raising interest rates by more than 50 basis points during this period, but investors are not so confident, and the strength of the US dollar far overshadows the light of the pound.


GBPUSD GBPUSD - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the Bull Power maintained a shock rise, retreated in the short term at a high level when encountering obstacles, the short power waited for the opportunity to enter, the MACD index was hovering above the 0 axis, and the RSI index was at 50 balanced online side sorting;


Long short turning point: 1.19640


Pressing position: 1.19984, 1.20331


Support position: 1.19087, 1.18690


Trading strategy: bearish below 1.19640, target 1.19087, 1.18690


Alternative strategies: bullish above 1.19640, targets 1.19984, 1.20331

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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