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GBPUSD: Short position sorting down
2022-09-22
1186
Fundamental analysis:
The pound remained volatile against the dollar at 1.12624. When the new British Chancellor of the Exchequer Kwaten prepared his first financial report, investors' confidence in British assets was on the verge of a cliff. Investors believe that this event will be an important test of confidence in the UK economy and public finance.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the downward trend of short positions in the market is good, the short-term decline has not stopped, and it is in the process of slow consolidation and downward movement. The MACD indicator is in the weak consolidation and downward movement in the short positions, and the RSI indicator is in the weak positions in the short positions;
Multi empty turning point: 1.12725
Pressing position: 1.13114, 1.13415
Support position: 1.12327, 1.11920
Trading strategy: 1.12725 lower bearish, target 1.12327, 1.11920
Alternative strategy: bullish above 1.12725, target 1.13114, 1.13415
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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