Britain launches 15billion fiscal stimulus plan to help the pound gain a firm foothold

Fundamental analysis:

The pound remained volatile around 1.26495 against the US dollar. The pound did not show a substantive response to the additional 15billion pound fiscal stimulus plan announced by the government, which at least prevented the pound from falling further. After the British Chancellor of the exchequer Rishi sunak made a large expenditure, the exchange rate of the main pound against the US dollar was basically flat. The expenditure was designed to protect households from the impact of soaring energy costs.

GBPUSD GBPUSD - 4-hour K-line chart display:

Technical comments: the upper rail section in the Bollinger belt index channel continued to fluctuate and rise. After the high level reached the node near 1.26660, the weak consolidation and translation began. In the short term, the bull power continued to move upward. The Bollinger belt index showed a good upward trend. The MACD index was in the bull region to maintain consolidation and continuous translation, and the RSI index was in the 50 balanced online side to maintain weak wandering;

Multi empty turning point: 1.26208

Pressing position: 1.26943, 1.27395

Support position: 1.25662, 1.25128

Trading strategy: bullish above 1.26208, target 1.26943, 1.27395

Alternative strategy: bearish below 1.26208, target 1.25662, 1.25128

The above analysis is a personal point of view and is for reference only.