GBP / USD fluctuated around 1.15876. The energy bill cap of new British Prime Minister Liz truss will significantly reduce future inflation expectations and may mean that the British economy avoids recession. This progress will support the outlook of GBP.
GBPUSD GBPUSD - 4-hour K-line chart shows:
From the 4-hour chart, the low-end Bulls' power and narrow range consolidation moved up slowly, short-term bullish sentiment began to pour in, MACD index hovered on the upper side of the 0 axis, and RSI index was on the 50 equilibrium line;
Long and short turning point: 1.15751
Pressing position: 1.16194, 1.16484
Support position: 1.15433, 1.15086
Trading strategy: bullish above 1.15751, target 1.16194, 1.16484
Alternative strategy: bearish below 1.15751, target 1.15433, 1.15086