The pound remained volatile against the dollar at 1.14621. In order to keep the pound supported, the Bank of England may have to raise the basic interest rate to 5% in this cycle to attract scarce foreign capital. If it does not, the pound may fall to 1.10 or below.
GBPUSD GBPUSD - 4-hour K line chart shows:
The 4-hour chart shows that the momentum of high short positions has fallen rapidly, the market short position mood has been shrouded, and it has started to decline slowly. The short-term decline has not stopped. The MACD indicator remains in the short position area and the RSI indicator remains weak in the short position area;
Empty turning point: 1.14707
Pressing position: 1.14969, 1.15258
Support position: 1.14349, 1.14081
Trading strategy: 1.14707 lower bearish, target 1.14349, 1.14081
Alternative strategy: 1.14707 upside bullish, target 1.14969, 1.15258