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GBPUSD: low move down
2022-12-28
1024
Fundamental analysis:
GBP/USD remained volatile around 1.20288, and the UK may be the vanguard of an economy in recession. Tough fiscal conditions, coupled with a dragging Bank of England, could lead to further losses in sterling next year," with markets seeing GBP/USD falling to 1.14 by the end of the first quarter of 2023 from around 1.21 currently, citing their "consensus" view on the UK's growth outlook. particularly negative view".
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The short-term sentiment in the market has begun to fluctuate downward, and the short-term decline may continue. The market as a whole is in a weak position and is constantly moving downward.
Long-short turning point: 1.20406
Suppression: 1.20683, 1.20933
Support: 1.19999, 1.19700
Trading strategy: bearish below 1.20406, target 1.19999, 1.19700
Alternative strategy: Bullish above 1.20406, target 1.20683, 1.20933
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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