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GBPUSD: High bit continuously moves up

2022-10-27
620
Fundamental analysis:

GBP/USD remained volatile around 1.16146. British Prime Minister Sunak is considering postponing the release of next week's financial plan report, which will explain how the government can fill the 40 billion pound fiscal black hole in the country.


GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum keeps moving up in a ladder like manner, and short-term bullish sentiment is shrouded. The market bulls continue to move upward. The MACD index is at the high level in the bulls' region and moves upward, while the RSI index is at the lower side of the 80 equilibrium line in the high level overbought area in the bulls' region;


Empty turning point: 1.15908


Pressing: 1.16604, 1.17050


Support: 1.15431, 1.14940


Trading strategy: bullish above 1.15908, target 1.16604, 1.17050


Alternative strategy: bearish under 1.15908, target 1.15431, 1.14940

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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