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GBPJPY: high position down
2023-01-26
994
Fundamental analysis:
Sterling remained volatile against the yen near 160.611, and Fitch expects British consumers to continue to reduce spending and switch to cheaper groceries in the coming quarters. Profits for UK retailers are expected to continue to be pressured by falling disposable income and rising own costs.
British Pound Japanese Yen GBPJPY - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high-level short-term momentum remains volatile and downward, and the short-term decline may continue. The market is shrouded in bearish sentiment, and the short-term decline may continue. wandering;
Long-short turning point: 160.688
Suppression: 161.060, 161.458
Support: 160.174, 159.780
Trading strategy: bearish below 160.688, target 160.174, 159.780
Alternative strategy: Bullish above 160.688, target 161.060, 161.458
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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