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GBPUSD: low wide range oscillation
2022-09-08
1033
Fundamental analysis:
GBP / USD kept fluctuating around 1.15184. Driven by truss, the market has priced the narrative of balance of payments / fiscal crisis. However, sensible government policies ease the stagflation crisis, reduce the need for the Bank of England to raise interest rates substantially, and reduce the risk of deep recession, which is beneficial to the pound
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the downward trend of the market is still the same, the short power maintains a wide swing, the MACD index remains in the short area, and the RSI index hovers around the 5 equilibrium line;
Long and short turning point: 1.15232
Pressing position: 1.15675, 1.16090
Support position: 1.14727, 1.14230
Trading strategy: bearish below 1.15232, targets 1.14727, 1.14230
Alternative strategy: bullish above 1.15232, target 1.15675, 1.16090
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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