The outlook for the Bank of England's more aggressive interest rate cycle is good for the pound in the short term

Fundamental analysis:

Sterling remained volatile around 1.25322 against the US dollar, and the Bank of England's more aggressive outlook for the interest rate cycle is a positive short-term factor for sterling. As far as this will increase the possibility of a hard landing in the UK, further interest rate hikes may have limited upward potential for the pound.

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

Technical comments: the bull power continues, and the middle and upper rail section of the brin belt index channel continues to fluctuate and rise. After the high level reaches the node near 1.26011, it starts to sort and retreat in a narrow range. It is tangled in the sorting near the middle rail of the brin belt index. The brin belt index continues to close. The MACD index is in the process of maintaining the shock retreat and moving down in the bull area, and the RSI index is in the process of maintaining the shock retreat and hovering above the 50 equilibrium line in the bull area;

Multi empty turning point: 1.25512

Pressing position: 1.26231, 1.26909

Support position: 1.24793, 1.24155

Trading target: 24791.155, down

Alternative strategy: bullish above 1.25512, targets 1.26231 and 1.26909

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