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GBPUSD: Bulls soaring
2022-10-24
1042
Fundamental analysis:
The pound remained volatile around 1.12709 against the US dollar, with former Finance Minister Sunak and House of Commons leader Mordant leading the way. Home Secretary Breverman, who just announced his resignation, and former Prime Minister Johnson, who was forced to announce his resignation more than three months ago, may also join the competition.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish market fluctuates downward, rapidly rises with support in the short term, market bullish sentiment enters the market, MACD index hovers in a weak position near the 0 axis, and RSI index fluctuates upward to the 50 balanced online side for consolidation;
Empty turning point: 1.12580
Pressing: 1.13136, 1.13551
Support: 1.12144, 1.11719
Trading strategy: bullish above 1.12580, target 1.13136, 1.13551
Alternative strategy: bearish under 1.12580, target 1.12144, 1.11719
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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