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GBPUSD: High level oscillation moves down
2022-10-06
1089
Fundamental analysis:
GBP/USD remained volatile around 1.13201. The rise of GBP may continue in the short term, but the long-term upside potential of GBP may be limited until the political, economic and financial risks become clearer. In the short term, the pound may recover 1.17-1.18 against the dollar, but the increase after that may depend on the overall trend of the dollar.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the high short power starts to wait for an opportunity to enter the market, and the shock moves downward. The short-term short power continues to retreat and move downward. The MACD index is in the long area, and the high level is arranged and moves downward slowly, while the RSI index is in the 50 balanced online weak position;
Empty turning point: 1.13721
Pressing: 1.14599, 1.14365
Support: 1.12291, 1.11464
Trading strategy: 1.13721 lower bearish, target 1.12291, 1.11464
Alternative strategy: 1.13721 upside bullish, target 1.14599, 1.14365
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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