CM Trade

Download APP to receive bonus

GET

GBPUSD: High level sorting rollback

2022-10-17
1099
Fundamental analysis:

GBP / USD fluctuated around 1.11728, and British Prime Minister Truss was considering giving up more content in the government's controversial "mini budget", which pushed the previously battered GBP and UK government bonds to rebound.


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. Short term short positions begin to enter the market slowly. The MACD index hovers in the weak market of Axis 0, and the RSI index is in the weak consolidation near the 50 equilibrium line;


Empty turning point: 1.11921


Pressing: 1.12579, 1.13164


Support: 1.11135, 1.10513


Trading strategy: 1.11921 lower bearish, target 1.11135, 1.10513


Alternative strategy: 1.11921 upside bullish, target 1.12579, 1.13164

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More