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Pound us: low shock

2022-07-01
1373
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

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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