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Pound us: repeatedly breaking new lows
2022-07-13
1331
Fundamental analysis:
GBP / USD remained volatile around 1.18787, and the possibility of the Bank of England raising interest rates by 50 basis points on August 4 was close to 70%. Since December, the central bank has raised borrowing costs five times.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term momentum remained volatile, the downward trend continued, and there was no sign of stopping in the short-term decline. After repeatedly breaking new lows, there was consolidation. The MACD index was in the short area and maintained a weak consolidation, and the RSI index was in the weak position below the 50 equilibrium line;
Long short turning point: 1.18991
Suppression bit: 1.19564, 1.20191
Support position: 1.18170, 1.17583
Trading strategy: bearish below 1.18991, target 1.18170, 1.17583
Alternative strategy: bullish above 1.18991, target 1.19564, 1.20191
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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