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Pound us: wide range shock
2022-07-25
1248
Fundamental analysis:
Sterling remained volatile around 1.19770 against the US dollar, and Bank of England governor Bailey) has turned to "hawks" and hinted that he would raise interest rates by 50 basis points twice in a row. The pound is still in the short trend from February this year.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart: in the short term, it was in a wide range of shock translation, and fell sharply after breaking through the high level. The market was still in a wide range of consolidation, MACD index hovered on the upper side of the 0 axis, and RSI index was in a narrow range of consolidation near the 50 equilibrium line;
Long short turning point: 1.19867
Pressing position: 1.20154, 1.20388
Support position: 1.19507, 1.19213
Trading strategy: bearish below 1.19867, targets 1.19507, 1.19213
Alternative strategies: bullish above 1.19867, targets 1.20154, 1.20388
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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