Pound day: rapid decline

The pound fell to around 162.363 against the yen, and the current year-on-year increase in UK CPI will be close to 11%, which confirms that the cyclical outlook for the UK economy is still grim - in fact, in the next six quarters before 2023, the cumulative growth of the UK will be the second lowest in G10.

According to the 4-hour chart, the bearish power is in the off track section of the Bollinger belt index channel, which continues to fluctuate widely, plummeting rapidly to the nodes near the off track, and then finishing. The short-term bearish power continues to have a good downward trend. The Bollinger belt index continues to have a mouth opening trend, the MACD index is in the weak shock under the 0 axis, and the RSI index is in the lower side of the 50 equilibrium line, finishing and moving down;

Long short turning point: 162.693

Pressing position: 163.301, 163.927

Support position: 161.781, 161.137

Trading strategy: bearish below 162.693, target 161.781, 161.137

Alternative strategy: bullish above 162.693, targets 163.301, 163.927