Sterling fluctuated around 1.18264 against the US dollar. Sterling has been hit by worries about soaring inflation and economic downturn in the UK. These data increase the signs that the UK economy will decline.
GBPUSD GBPUSD - 4-hour K-line chart shows:
According to the 4-hour chart, the low-level short-term narrow range consolidation continues to shift, the market hovers at the low level in the short term or maintains the low level, the MACD indicator is in the short area, the low level maintains the shock and moves upward, and the RSI indicator is in the weak consolidation near the 50 equilibrium line;
Long and short turning point: 1.18109
Pressing position: 1.18544, 1.18958
Support position: 1.17760, 1.17434
Trading strategy: bullish above 1.18109, target 1.18544, 1.18958
Alternative strategy: bearish below 1.18109, target 1.17760, 1.17434