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GBPUSD: High weak shock
2022-10-19
1066
Fundamental analysis:
The pound remained volatile against the dollar at 1.13167. The Bank of England may be difficult to control inflation by raising interest rates, and the pound is expected to remain under pressure. The Bank of England clearly still wants to show its consideration of the bond market and the Ministry of Finance by delaying its quantitative tightening (QT) plan.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bulls' momentum has kept surging, the high level has been sorted out in the short term, the market is still bullish, the MACD indicator hovers on the top of the 0 axis, and the RSI indicator is sorted out at the 50 equilibrium line, the market is weak;
Multi empty turning point: 1.13054
Pressing: 1.13834, 1.14412
Support: 1.12517, 1.11918
Trading strategy: 1.13054 upside bullish, target 1.13834, 1.14412
Alternative strategy: 1.13054 bearish, target 1.12517, 1.11918
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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