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GBPUSD: Multi head concussion uplink

2022-10-04
1105
Fundamental analysis:

The pound remained volatile against the dollar at 1.13240. British Prime Minister Trass insisted on implementing the large-scale tax reduction plan, but the expectations of the outside world are still low. At present, the pound is still volatile in a narrow range. Investors need to pay attention to the effect of the new government policy, which is expected to boost the pound.


GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the power of low bulls has kept rising in a ladder like manner, and short-term bullish sentiment has emerged. The MACD index is at the high level in the bull region, and the RSI index is at the weak point in the bull region;


Empty turning point: 1.12817


Pressing position: 1.14042, 1.14858


Support position: 1.11929, 1.11137


Trading strategy: bullish above 1.12817, target 1.14042, 1.14858


Alternative strategy: 1.12817 bearish, target 1.11929, 1.11137

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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