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Pound us: continuous downward shock
2022-07-07
1149
Fundamental analysis:
Sterling moved down to around 1.19180 against the US dollar. Two senior British cabinet ministers and the Deputy Attorney General for England and Wales resigned on Tuesday to protest the leadership of prime minister Johnson. In the past few months, a series of scandals have occurred during Johnson's tenure. After the announcement, the pound fell, hitting a new low of 1.1897 in March 2020.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short power continued to decline near the downtrack of the Bollinger belt index, the Bollinger belt index continued to open its mouth, the MACD index was in the short area to maintain the consolidation and slow decline, and the RSI index was in the weak consolidation and translation of the short area;
Long short turning point: 1.19576
Pressing position: 1.20106, 1.20652
Support position: 1.18842, 1.18420
Trading strategy: bearish below 1.19576, target 1.18842, 1.18420
Alternative strategies: bullish above 1.19576, targets 1.20106, 1.20652
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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