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GBPUSD: High level oscillation
2022-11-21
1122
Fundamental analysis:
The British pound remained volatile against the US dollar at 1.18905. The British Chancellor of the Exchequer Hunter's budget plan clearly intended to close the gap by attacking consumers. At present, the economy is declining, and there is a cost of living crisis. However, they are raising taxes, which is bound to affect the development of the British economy.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the bullish power continues to move up, the high level moves and the market settles at a high level in a short term or in a tangle. The MACD index is in the bullish region and moves and the RSI index hovers above the 50 equilibrium line;
Empty turning point: 1.18926
Pressing: 1.19479, 1.19999
Support: 1.18289, 1.17618
Trading strategy: 1.18926 lower bearish, target 1.18289, 1.17618
Alternative strategy: 1.18926 upper bullish, target 1.19479, 1.19999
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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