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GBPUSD: low position narrow amplitude oscillation moving up

2022-09-06
1080
Fundamental analysis:

GBP / USD fluctuated around 1.15099. According to the British telegraph, the new British Prime Minister truss is considering freezing Britain's energy bills until the next election.


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




Technical analysis:


According to the 4-hour chart, the short power keeps oscillating downward, after the low narrow range consolidation, the bulls are waiting for an opportunity to enter the market, the MACD indicator is in the short area to maintain consolidation, and the RSI indicator is in the short area to move upward;


Long and short turning point: 1.15232


Pressing position: 1.15981, 1.16412


Support position: 1.14727, 1.14230


Trading strategy: bullish above 1.15232, targeting 1.15981 and 1.16412


Alternative strategy: bearish below 1.15232, target 1.14727, 1.14230

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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