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GBPUSD: Multi head pull-up

2022-11-08
651
Fundamental analysis:

The pound remained volatile against the dollar at 1.15118. The draft statement to be issued by the Bank of England on November 17 contains up to 35 billion pounds of expenditure reduction and up to 25 billion pounds of tax increase plans, which may include the freezing of income tax threshold and the reduction of dividend tax.


GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum is strong, the short-term bulls' sentiment is pouring in, and the market is bullish. The MACD index maintains its volatility and moves up to the upper side of the 0 axis and hovers, while the RSI index is in 50 equilibrium and the online side is weak;


Empty turning point: 1.14940


Pressing: 1.15518, 1.15918


Support: 1.14540, 1.14140


Trading strategy: bullish above 1.14940, target 1.15518, 1.15918


Alternative strategy: bearish under 1.14940, target 1.14540, 1.14140

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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