UK data show that market expectations for the Bank of England to raise interest rates remain unchanged

Fundamental analysis:

GBPUSD remained volatile around 1.25812, and strong UK economic data suggest that the market may not need to further reduce expectations of the Bank of England raising interest rates. However, it should be noted that the Fed still firmly focuses on fighting inflation, which means that its current rapid tightening policy is still in automatic operation. This position is more hawkish than that of the Bank of England, indicating that the pound may still encounter significant resistance in the future.

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

Technical comments: the low-level bull power continues to fluctuate and rise in the upper rail section of the brin belt index channel. After the high level reaches the node near 1.26011, it starts to sort out. In the short term, the bull power continues to move upward. The brin belt index shows an upward trend and fluctuates and moves upward continuously. The MACD index is in the high level of the bull area and moves upward slowly, and the RSI index is in the long area;

Multi empty turning point: 1.25512

Pressing position: 1.26530, 1.27189

Support position: 1.24793, 1.24155

Trading strategy: bullish above 1.25512, target 1.26530, 1.27189

Alternative strategy: bearish below 1.25512, target 1.24793, 1.24155

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