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GBPUSD: Multi head moves up rapidly
2022-10-14
1134
Fundamental analysis:
GBP/USD remained volatile around 1.13137. The UK's economic outlook may still be quite bleak, and consumer confidence is at a historical low, indicating that the UK may face serious recession risks. The pound may fall sharply against the US dollar, and will fall below its parity to 0.975 by the end of the year.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that: after the high narrow amplitude shock, the market rapidly rose, short-term bullish sentiment warmed up, market bulls emerged, MACD index hovered in the 0 axis market, and RSI index remained in the bulls area to maintain consolidation and translation;
Multi empty turning point: 1.12908
Pressing: 1.12803, 1.14443
Support: 1.12268, 1.11683
Trading strategy: 1.12908 upside bullish, target 1.12803, 1.14443
Alternative strategy: 1.12908 bearish, target 1.12268, 1.11683
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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