CM Trade

Download APP to receive bonus

GET

Pound United States: long shock pull up

2022-07-26
969
Fundamental analysis:

GBP / USD remained volatile around 1.20468, UK inflation pressure eased slightly, investment rebounded, and the growth rate of UK industrial output was the slowest in more than a year. Manufacturing has been a bright spot in the economy in recent months, but output and orders have slowed down in the face of continuous cost pressures, supply challenges and general economic weakness in the UK and the world.


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




Technical analysis:


According to the 4-hour chart, the bull momentum remained volatile and the upward trend continued, and there were signs of continued upward movement after the short-term consolidation of the high level. The MACD index hovered in the bull area above the 0 axis, and the RSI index was in the 50 balanced online side narrow consolidation;


Long short turning point: 1.20347


Pressing position: 1.20695, 1.20913


Support position: 1.20117, 1.19904


Trading strategy: bullish above 1.20347, targets 1.20695, 1.20913


Alternative strategies: bearish below 1.20347, targets 1.20117, 1.19904

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More