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The market expects the Bank of England to continue tightening policy
2022-06-14
1014
Fundamental analysis:
GBP / USD remained volatile around 1.21369, and the British political crisis put pressure on GBP. However, the Bank of England's expectation of raising interest rates may help limit the downward range of the pound. Despite the unstable economic situation, the market expected that the Bank of England would continue to tighten policy and announced a 25 basis point interest rate increase at the monetary policy meeting on June 16.
GBPUSD GBPUSD - 4-hour K-line chart display:
Technical comments: the short power continued to decline near the brin zone index, and the low level reached the node near 1.21055. The short-term short power continued to move downward. After the brin zone index showed an opening trend, the high level began to close. The MACD index was in the rapid decline in the short area, and the RSI index was in the consolidation near the 15 equilibrium line in the oversold area;
Multi empty turning point: 1.21517
Pressing position: 1.21901, 1.22318
Support position: 1.20920, 1.20522
Trading strategy: bearish below 1.21517, target 1.20920, 1.20522
Alternative strategy: bullish above 1.21517, target 1.21901, 1.22318
The above analysis is a personal point of view and is for reference only.
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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