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The monthly rate of retail sales in the UK has not hit consumer demand
2022-05-23
919
Fundamental analysis:
Sterling remained volatile around 1.24702 against the US dollar, and the monthly rate of retail sales in the UK was adjusted in April: it seems that the impact of inflation has not yet caused a sustained blow to consumer demand. In April 2021, all non essential retail businesses in the UK reopened after a long blockade. Pent up demand led to large-scale activities, leading to a sharp increase in retail sales a year ago.
GBPUSD GBPUSD - 4-hour K-line diagram shows:
Technical comments: the upper rail section of the Bollinger belt index channel continued to fluctuate and rise. After the high level reached the node near 1.25213, the Bollinger belt index began to narrow. The closing trend of the Bollinger belt index continued. The MACD index was at the high level of the bull area and maintained the consolidation and translation, and the RSI index was at the upper side of the 50 equilibrium line and maintained a narrow range;
Long short turning point: 1.24354
Pressing position: 1.25273, 1.25971
Support position: 1.23735, 1.23077
Trading strategy: bullish above 1.24354, target 1.25273, 1.25971
Alternative strategy: bearish below 1.24354, target 1.23735, 1.23077
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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