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GBPUSD: Shorts continue to fall

2022-09-26
1131
Fundamental analysis:

The GBP/USD remained volatile around 1.08463, and the market almost fully digested the expectation of 75 basis points of interest rate increase. The GBP/USD directly hit the low point of 1.121, and the whole rhythm was completely unbalanced.


GBPUSD GBPUSD - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the momentum of short sellers continues to fluctuate and fall, and the short-term low decline has not stopped. Short sellers emerge, and the market moves further downward. The MACD index continues to move downward in the short area, and the RSI index hovers near the 15 equilibrium line in the oversold area;


Empty turning point: 1.08776


Pressing position: 1.09314, 1.09766


Support position: 1.08025, 1.07639


Trading strategy: bearish under 1.08776, target 1.08025, 1.07639


Alternative strategy: bullish above 1.08776, target 1.09314, 1.09766

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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