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Pound us: the ladder vibrates upward
2022-07-20
1171
Fundamental analysis:
GBP / USD remained volatile around 1.20013. The Bank of England was the first developed economy to start raising interest rates to deal with inflation. Although the pace was smaller than that of the Federal Reserve, it is still expected to continue raising interest rates. If the dollar continues to make high profit taking adjustments, there is an opportunity for sterling to continue its rebound.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the bull power maintains a step-by-step shock rise, and the short-term low-level reversal and upward movement trend may continue. The MACD index is at the high level of the bull region, and the RSI index is at the high level of the bull region and remains hovering;
Long short turning point: 1.19739
Pressing position: 1.20331, 1.20740
Support position: 1.20331, 1.19087
Trading strategy: bullish above 1.19739, targets 1.20331, 1.20740
Alternative strategies: bearish below 1.19739, targets 1.20331, 1.19087
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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