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Britain's inflation is high and its economy is fragile
2022-06-07
1145
Fundamental analysis:
The pound remained volatile around 165.585 against the yen. The high inflation in the UK, the faltering economy on the brink of recession and frequent government scandals are sending a message to the market that the UK economy is fragile. At present, it depends on whether the Bank of England can continue to raise interest rates to cope with soaring inflation.
Gbpjpy - 4-hour K-line chart display:
Technical comments: the bull power continued to fluctuate and rise in the upper rail section of the Bollinger belt index channel, and the high level reached around 165.609. The Bollinger belt index showed an upward trend and began to show signs of opening up. The MACD index kept moving up in the bull region, and the RSI index kept moving up to the lower side of the 80 equilibrium line in the bull region;
Multi empty turning point: 165.314
Pressing position: 166.061, 166.689
Support position: 164.744, 164.076
Trading strategy: bullish above 165.314, target 166.061, 166.689
Alternative strategy: bearish below 165.314, target 164.744, 164.076
The above analysis is a personal point of view and is for reference only.
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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