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GBPUSD: Short position low position sorting

Fundamental analysis:

The pound remained volatile against the dollar at 1.12543. The Bank of England raised interest rates by 50 basis points to 2.25%, in line with market expectations. Since December last year, it has raised interest rates seven times in a row.

GBPUSD GBPUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the bearish momentum remains volatile and downward, and the low position is narrowed in a short term. The market bearish sentiment starts to pour in. The MACD index is in the low position of the short position area and the RSI index is in the low position area and remains volatile;

Multi empty turning point: 1.12725

Pressing position: 1.13090, 1.13415

Support position: 1.12184, 1.11920

Trading strategy: 1.12725 lower bearish, target 1.12184, 1.11920

Alternative strategy: bullish above 1.12725, target 1.13090, 1.13415

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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