CM Trade

Download APP to receive bonus


GBPUSD: bearish downward low order oscillation

Fundamental analysis:

The British pound remained volatile against the US dollar at 1.14103. The prospects for UK economic growth were pessimistic. Recently, the lack of political leadership, the rise of national debt and the expansion of the UK current account deficit were all negative. The pound is particularly vulnerable to the strength of the dollar relative to other currencies.

GBPUSD GBPUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the bearish power has maintained a volatile downward trend, and the low position has been supported and sorted out in the short term, but the downward trend is good, and there is still a downward trend in the short term. The MACD indicator is in the low position of the short position area, and the RSI indicator is hovering in the short position area;

Empty turning point: 1.14208

Pressing position: 1.14502, 1.14796

Support position: 1.13819, 1.13525

Trading strategy: 1.14208 lower bearish, target 1.13819, 1.13525

Alternative strategy: 1.14208 upside bullish, target 1.14502, 1.14796

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar