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Pound us: narrow back consolidation
2022-07-22
1189
Fundamental analysis:
The pound remained volatile around 1.19703 against the dollar, and the new British Prime Minister is unlikely to change the pessimistic tone that has been weighing on the pound. This may mean that the Bank of England will raise interest rates further, which will weaken the growth potential that British Prime Minister candidate trass hopes to create.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of high short positions remained weak, retreated and moved down, low long positions showed signs of reversing and moving up, MACD index hovered on the upper side of the 0 axis, RSI index was at 50, balanced and narrow on the 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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