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Pound us: the high level retreats when it is blocked
2022-07-27
1120
Fundamental analysis:
GBP / USD remained volatile around 1.20331, and the Bank of England raised interest rates slowly at the original pace this week. Whether the pound in the recent upward trend of volatility can take the opportunity to produce a breakthrough depends on the market reaction after the interest rate decision meeting of the US and UK central banks.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: the bull momentum remained volatile, the upward trend continued, the high-level short-term consolidation was blocked, the market short sentiment began to retreat, the MACD index was in the bull region, the consolidation and translation were maintained, and the RSI index was in the 50 equilibrium online side;
Long short turning point: 1.20347
Pressing position: 1.20645, 1.20914
Support position: 1.20036, 1.19846
Trading strategy: bearish below 1.20347, targets 1.20036, 1.19846
Alternative strategies: bullish above 1.20347, targets 1.20645, 1.20914
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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