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GBPUSD: short low down
2022-09-05
996
Fundamental analysis:
The pound kept fluctuating around 1.15115 against the US dollar. The British Chamber of Commerce believes that the British economy is in recession, and the inflation rate will reach 14% later this year and 5% by the end of 2023. This will put more pressure on the new British Prime Minister to act quickly to avoid economic disaster.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the downward trend of short positions is good, and the short positions are sorted out at low levels in the short term. The downward trend of short positions has not yet stopped. MACD index is hovering at the low level in the short area, and RSI index is in the narrow range fluctuation in the short area;
Long and short turning point: 1.15232
Pressing position: 1.15632, 1.15981
Support position: 1.14611, 1.14124
Trading strategy: 1.15232 down bearish, targets 1.14611, 1.14124
Alternative strategy: bullish above 1.15232, target 1.15632, 1.15981
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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