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GBPUSD: low short weakness down

2022-09-01
1062
Fundamental analysis:

GBP / USD fluctuated around 1.16197. British Foreign Secretary Liz truss said a few days ago that she might consider restricting the Bank of England's independent decision-making on the interest rate issue. Trass is the most likely candidate to win the Conservative Party leadership election and become British Prime Minister.


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




Technical analysis:


According to the 4-hour chart, the low short power and weak consolidation are slowly descending, the market short sentiment is shrouded, the short-term decline is not stopped, the MACD indicator is in the short area to maintain consolidation and translation, and the RSI indicator is in the short area to linger narrowly;


Long and short turning point: 1.16375


Pressing position: 1.16806, 1.17262


Support position: 1.15767, 1.15358


Trading strategy: bearish below 1.16375, target 1.15767, 1.15358


Alternative strategy: bullish above 1.16375, target 1.16806, 1.17262



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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