Daily Market Analysis 05 Aug 2022

Daily Market Analysis 05 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 05 August

GBP/USD

Technical Outlook

GBP/USD recovered from the low of 1.2067 made yesterday after the BOE decision. However, volatility is expected. We advocate to avoid aggressive bids.



Technical Indicators
Action
RSI (53)
SELL
Oscillator (54)
BUY
MACD (Below Midline)
SELL
200 EMA (1.2816)
SELL


Strategy


Scenario 1
Scenario 2
Action
SELL
SELL
Entry
1.2145
1.2155
Target 1 
1.2115
1.2125
Target 2 
1.2085
1.2095
Stop Loss
1.2175
1.2185


Key Signposts

GBP- Halifax House Price Index YoY JUL

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