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GBPUSD: High level oscillation
2022-11-16
1071
Fundamental analysis:
The British pound remained volatile against the US dollar at 1.18647. The UK's ILO unemployment rate in September was 3.6%, expected to be 3.50%, from a previous value of 3.50%. The number of UK jobless claims in October was 3300, with a previous value of 25500. Compared with September 2022, the number of salaried employees increased by 74,000 in October 2022.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum continues to move upward in a continuous upward trend, and short-term bullish sentiment emerges. After the market bulls' strong upward trend, they encounter obstacles and shocks. The MACD index is at the high level in the bulls' region, and the RSI index hovers in the bulls' region;
Empty turning point: 1.18,423
Pressing: 1.19211, 1.19831
Support: 1.17786, 1.17148
Trading strategy: bullish above 1.18423, target 1.19211, 1.19831
Alternative strategy: 1.18423 bearish, target 1.17786, 1.17148
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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