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GBPUSD: Narrow finishing moves down

2022-09-28
1057
Fundamental analysis:

The pound remained volatile against the dollar at 1.07286. As there was no clear valuation threshold for the pound, the market's prediction of the pound falling to parity seemed "quite reasonable", but it was still not considered inevitable.


GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that although the market bulls have moved up in the short term, the bears have again moved down. The bearish mood is shrouded. MACD indicators remain weak in the bearish areas and RSI indicators remain weak in the bearish areas;


Empty turning point: 1.07520


Pressing position: 1.08308, 1.09314


Support position: 1.06299, 1.05186


Trading strategy: bearish under 1.07520, target 1.06299, 1.05186


Alternative strategy: bullish above 1.07520, target 1.08308, 1.09314

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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