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GBPUSD: Bulls keep climbing
2022-10-05
1155
Fundamental analysis:
The pound remained volatile against the dollar at 1.14702. As the British economy fell into more serious stagflation, the current account deficit deteriorated and the policy uncertainty remained high, the pound will continue to be under pressure; It is expected that the pound will continue to decline and may fall to 1.05 by the end of the year.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum keeps moving up slowly, and short-term bullish sentiment emerges. The bulls continue to move up. The MACD indicator keeps moving up slowly in the bulls' area, and the RSI indicator keeps sorting out weak in the bulls' area;
Empty turning point: 1.14342
Pressing position: 1.15531, 1.16335
Support position: 1.13473, 1.12649
Trading strategy: bullish above 1.14342, target 1.15531, 1.16335
Alternative strategy: 1.14342 bearish, target 1.13473, 1.12649
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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