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UK investors worry about deteriorating growth prospects

2022-06-03
905
Fundamental analysis:

Sterling remained volatile around 163.153 against the yen. The survey showed that the expansion rate of manufacturing activities in the UK in May was the slowest since January 2021. Investors were worried about the deterioration of growth prospects.

Gbpjpy - 4-hour K-line chart display:




Technical comments: the upper rail section of the Bollinger belt index channel continues to vibrate and rise, and the high level reaches the node near 163.424. The short-term long-term upward movement trend may continue. The closing upward trend of the Bollinger belt index continues, the MACD index is at the high level of the bull region and maintains the consolidation and translation, and the RSI index is at the low level of the bull region;


Multi empty turning point: 162.821


Pressing position: 163.708, 164.309


Support position: 162.218, 161.574


Trading strategy: bullish above 162.821, target 163.708, 164.309


Alternative strategy: bearish below 162.821, target 162.218, 161.574


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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