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GBPUSD: High position and weak position move down
2022-10-11
1116
Fundamental analysis:
The pound remained volatile around 1.10507 against the US dollar, and the British market continued to worry about fiscal policy. The pound fell after Fitch, a rating agency, downgraded the outlook for the UK government debt credit rating from "stable" to "negative" on Wednesday.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of high short positions remains weak and moves downward. The market short positions continue to move downward. There are signs of continuing to move downward in the short term. The MACD indicator is weak and hovering below the 0 axis, and the RSI indicator is weak and sorted below the 50 equilibrium line;
Multi empty turning point: 1.11085
Pressing: 1.11956, 1.12693
Support: 1.09945, 1.09119
Trading strategy: 1.11085 bearish, target 1.09945, 1.09119
Alternative strategy: 1.11085 upside bullish, target 1.11956, 1.12693
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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