The British Foreign Secretary will pass legislation to amend the Northern Ireland protocol in the coming weeks

Fundamental analysis:

Sterling remained volatile around 1.23382 against the US dollar. British Foreign Secretary Liz truss confirmed that the government plans to pass legislation to amend the Northern Ireland protocol in the coming weeks. The protocol is part of the post brexit trade agreement, which requires the inspection of some goods entering Northern Ireland from other parts of the UK.

GBPUSD GBPUSD - 4-hour K-line diagram shows:

Technical comments: the low-level bull power continued to fluctuate and rise near the upper rail of the brin belt index. After reaching the node near 1.24978, the high level retreated due to resistance. After touching the node near the middle rail of the brin belt index, there were signs of continuing to decline. After the brin belt index showed an opening trend, it began to close. The MACD index remained in the bull area and fluctuated slowly, and the RSI index remained in the bull area and fluctuated and fell to the 50 equilibrium line;

Long short turning point: 1.23596

Pressing position: 1.24195, 1.24833

Support position: 1.22877, 1.22298

Trading strategy: bearish below 1.23596, target 1.22877, 1.22298

Alternative strategy: bullish above 1.23596, targets 1.24195 and 1.24833

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