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Pound United States: short shock down
2022-07-21
1210
Fundamental analysis:
Sterling remained volatile around 1.19701 against the US dollar. Bailey, governor of the Bank of England, said that the Bank of England would consider raising interest rates by 50 basis points in August to accelerate the pace of fighting inflation. The Bank of England may reduce its holdings of UK government bonds, that is, start quantitative tightening. It seems that the Bank of England has finally figured out that anti inflation is the primary focus.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bull Power maintained a shock rise, the high-end short-term consolidation was blocked, the short power began to wait for the opportunity to enter the market and go down, the MACD index was in the bull region, and the consolidation translation was maintained, and the RSI index was in the 50 equilibrium Online side;
Long short turning point: 1.19739
Pressing position: 1.20058, 1.20331
Support position: 1.19408, 1.19087
Trading strategy: bearish below 1.19739, target 1.19408, 1.19087
Alternative strategies: bullish above 1.19739, targets 1.20058, 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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