Fundamental analysis:
GBP / USD remained volatile around 1.21715. The final value of UK GDP annual rate in the first quarter: the final value did not change, but the details showed that the real disposable income of households fell by 0.2% in this quarter. In the worsening cost of living crisis, UK GDP data in the second quarter may not be optimistic.
GBPUSD GBPUSD - 4-hour K-line chart display:
Technical analysis:
According to the 4-hour chart, the bearish power continued to fluctuate and descend near the brin zone index. The low-level short-term Bull Power waited for the opportunity to enter and reverse. After touching the nodes near the middle rail, the brin zone index continued to close. The MACD index was at the lower side of the 0 axis, and the short area maintained the adjustment and translation, and the RSI index was at the lower side of the 50 equilibrium line;
Multi empty turning point: 1.21525
Pressing position: 1.22181, 1.22613
Support position: 1.21106, 1.20700
Trading strategy: bullish above 1.21525, target 1.22181, 1.22613
Alternative strategy: bearish below 1.21525, target 1.21106, 1.20700