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Pound United States: low narrow finishing
2022-07-14
1083
Fundamental analysis:
GBP / USD remained volatile around 1.18867. The first round of voting for the Conservative Party leadership election in Britain will be held from 13:30 to 15:30 local time on July 13 (21:30 to 23:30 Beijing time on July 13). With the election of a new party leader, it may bring the expectation that the political situation will change to the market, which may give the pound a chance to breathe in the recent continuous decline.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: the short momentum maintained a weak shock downward, the low began to consolidate, and the short-term downward momentum began to weaken, but the market short sentiment remained, the MACD index was in the short area to maintain consolidation and translation, and the RSI index was in the weak hovering below the 50 equilibrium line;
Long short turning point: 1.18591
Suppression bit: 1.19564, 1.20191
Support position: 1.18170, 1.17583
Trading strategy: bearish below 1.18591, target 1.18170, 1.17583
Alternative strategy: bullish above 1.18591, target 1.19564, 1.20191
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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