CM Trade

Download APP to receive bonus

GET

Pound us: low weak move down

2022-07-15
1199
Fundamental analysis:

GBP / USD remained close to 1.180190, and all components of the UK economy contributed to better than expected data: manufacturing production increased by 2.3% in May, compared with the previous consensus forecast of 0.2%. Industrial output value increased by 0.9%, in line with expectations; The output value of the construction industry increased by 4.8%, higher than the expected 4.4%.


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




Technical analysis:


According to the 4-hour chart, the market is shrouded in short-term sentiment, the short-term decline has not stopped, the short-term momentum continues to move downward, the MACD index is in the short area to maintain the consolidation and translation, and the RSI index is in the weak position below the 50 equilibrium line;


Turning point of long and short: 1.18434


Suppression bit: 1.19009, 1.19564


Support position: 1.17645, 1.17219


Trading strategy: bearish below 1.18434, target 1.17645, 1.17219


Alternative strategies: bullish above 1.18434, targets 1.19009, 1.19564

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