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GBPUSD: short volatility continues to decline
2022-09-02
1034
Fundamental analysis:
GBP / USD fluctuated around 1.15419, and GBP / USD is bound to record the worst monthly performance since the end of 2016. The total decline in August was 4.53%, exceeding the 4.3% decline in April. Inflation in the UK has reached 10% and is expected to continue to climb, which will further squeeze the pay and benefits of hard hit consumers.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the market bears are shrouded in sentiment, and there is a trend of continuous downward movement in the short term, and there is no sign of stopping. MACD indicator is in the short area and remains in order, while RSI indicator is in the short area and remains wandering;
Long and short turning point: 1.15546
Pressing position: 1.15981, 1.16447
Support position: 1.14990, 1.14611
Trading strategy: bearish below 1.15546, target 1.14990, 1.14611
Alternative strategy: bullish above 1.15546, target 1.15981, 1.16447
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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