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GBPUSD: The bear rapidly descends

Fundamental analysis:

GBP / USD remained volatile around 1.14899, and the Bank of England will release the interest rate resolution and meeting minutes. The pound overnight index swap (OIS) market shows that investors believe that the probability of the Bank of England raising interest rates by 75 basis points is 75%, confirming that expectations for a substantial increase in interest rates have increased. But Goldman Sachs' currency strategists said the Bank of England would disappoint, which could be bad for the pound.

GBPUSD GBPUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the short sellers' momentum has entered the market quickly, and the short-term decline may continue. The market as a whole has begun to be overshadowed by short sellers' sentiment. The MACD indicator is in a long area and the RSI indicator is in a weak position below the 50 equilibrium line;

Empty turning point: 1.15122

Pressing position: 1.15488, 1.15844

Support position: 1.14535, 1.14179

Trading strategy: 1.15122 lower bearish, target 1.14535, 1.14179

Alternative strategy: bullish above 1.15122, target 1.15488, 1.15844

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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