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GBPUSD: Short Position Low Oscillation
2022-09-27
1068
Fundamental analysis:
The pound remained volatile against the dollar at 1.06796. After the British government announced a substantial tax cut, the pound depreciated significantly, although it may hit a new record low. The British government's purpose in doing so is to promote the British economic growth trend to 2.5%.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that market bearish sentiment is shrouded. Short term bulls move down again after entering the market, but the downward trend has not changed. MACD indicators remain in the bearish area to maintain consolidation, while RSI indicators remain in the bearish area to maintain shock;
Empty turning point: 1.07195
Pressing position: 1.08308, 1.09314
Support position: 1.05837, 1.04942
Trading strategy: bearish under 1.07195, target 1.05837, 1.04942
Alternative strategy: bullish above 1.07195, 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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