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GBPUSD: High level wandering

2022-10-28
590
GBPUSD EURUSD

Fundamental analysis:

GBP/USD remained volatile around 1.15567, and traders expected the Bank of England to raise interest rates by less than 150 basis points before the end of the year. The price of interest rate futures shows that the possibility of the Bank of England raising interest rates by 100 basis points on November 3 is 37%.


GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum is surging. In the high level region, you are sorting out the weak ones in a narrow range. The MACD index is in the high level of the bulls' region, and the RSI index is in the 50 equilibrium line;


Empty turning point: 1.15777


Pressing: 1.16253, 1.16796


Support: 1.15102, 1.14620


Trading strategy: bearish under 1.15777, target 1.15102, 1.14620


Alternative strategy: bullish above 1.15777, target 1.16253, 1.16796

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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