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GBPUSD: High level ladder down
2022-11-02
1053
Fundamental analysis:
GBP/USD remained volatile around 1.14803. Given that inflation will remain high for a period of time, it is expected that bank interest rates may further rise. The Bank of England is trying to ensure that economic demand slows down to ease domestic price pressure.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of high short positions remains in the downward trend of step shock, and the short-term decline may continue. The MACD indicator keeps the short positions power down to the weak position around the 0 axis; RSI index is in the weak position under the 50 balanced line;
Empty turning point: 1.14900
Pressing: 1.15357, 1.15770
Support: 1.14376, 1.13996
Trading strategy: bearish under 1.14900, target 1.14376, 1.13996
Alternative strategy: bullish above 1.14900, target 1.15357, 1.15770
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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