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GBPUSD: High level oscillation rollback
2022-10-07
1079
Fundamental analysis:
The pound remained volatile against the dollar at 1.11581. In the three months to the end of June, the pound fell a little more than 7% against the dollar, and the price of British government bonds also fell, because the overall impact of the Ukraine war on the international economy and the impact of interest rate policy on the financial market became inevitable.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions remains volatile and retreats downward, and the short-term decline may continue. The market short positions begin to pour in. The MACD index hovers in a weak position near the 0 axis, and the RSI index is in a narrow range under the 50 equilibrium line;
Empty turning point: 1.11889
Pressing: 1.12693, 1.13765
Support: 1.10727, 1.09945
Trading strategy: 1.11889 lower bearish, target 1.10727, 1.09945
Alternative strategy: 1.11889 upside bullish, target 1.12693, 1.13765
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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