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GBPUSD: low multi head concussion moving up

Fundamental analysis:

GBP / USD fluctuated around 1.15876. The energy bill cap of new British Prime Minister Liz truss will significantly reduce future inflation expectations and may mean that the British economy avoids recession. This progress will support the outlook of GBP.

GBPUSD GBPUSD - 4-hour K-line chart shows:

Technical analysis:

From the 4-hour chart, the low-end Bulls' power and narrow range consolidation moved up slowly, short-term bullish sentiment began to pour in, MACD index hovered on the upper side of the 0 axis, and RSI index was on the 50 equilibrium line;

Long and short turning point: 1.15751

Pressing position: 1.16194, 1.16484

Support position: 1.15433, 1.15086

Trading strategy: bullish above 1.15751, target 1.16194, 1.16484

Alternative strategy: bearish below 1.15751, target 1.15433, 1.15086

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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