CM Trade

Download APP to receive bonus

GET

GBPUSD: High lift

2022-11-14
1030
Fundamental analysis:

The pound remained volatile against the dollar at 1.18523. The UK GDP annual rate in the third quarter was revised to 2.4%, expected to be 2.10%, and the previous value was 4.40%. The UK is now worried that this will become the starting point of a long-term recession across the country. In the cost of living crisis, the service industry will be hit hard, and business investment will also be affected (down 0.5% in the third quarter).



GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' driving force continues to move up, the short-term bullish mood is shrouded, the market bulls have a breathing upward trend, the MAC point is in the bulls' regional high move up, and the RSI index is in the bulls' regional high collation;


Multi empty turning point: 1.18361


Pressing: 1.18913, 1.19275


Support: 1.17970, 1.17512


Trading strategy: 1.18361 upside bullish, target 1.18913, 1.19275


Alternative strategy: 1.18361 bearish, target 1.17970, 1.17512

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