GBPUSD: High level sorting

Fundamental analysis:

The pound remained volatile against the dollar at around 1.17560. The lesson of the revision of the Blue Book this year is that historical data can be significantly revised, especially during the epidemic. The current situation is that Britain's GDP is lower than the pre epidemic level, but the labor market is unprecedentedly tense, and the data is difficult to coordinate. The revision of the Blue Book resulted in the UK GDP falling below the forecast of the Oxford Economic Research Institute in March.

GBPUSD GBPUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the high short-term narrow range consolidation, the market short power has signs of opportunistic entry, the MACD index is hovering at a high level, and the RSI index is in the long region of consolidation and translation;

Empty turning point: 1.17795

Pressing: 1.18317, 1.18796

Support: 1.17148, 1.16757

Trading strategy: bearish under 1.17795, target 1.17148, 1.16757

Alternative strategy: bullish above 1.17795, target 1.18317, 1.18796