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GBPUSD: Step vibration downward
2022-10-10
1093
Fundamental analysis:
GBP/USD remained volatile around 1.10746. It is expected that GBP/USD will test 1.08 again before the end of the year. The lack of fiscal credibility and the Bank of England's more aggressive tightening tendency in 2023 have dragged down the country's economic growth, emphasizing the continued headwind facing GBP.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions maintains a downward step of shock, and the short-term decline may continue. The short positions in the market will continue. The MACD indicator hovers below the 0 axis, and the RSI indicator narrows down below the 50 equilibrium line;
Multi empty turning point: 1.11084
Pressing: 1.11956, 1.12693
Support: 1.09945, 1.09119
Trading strategy: 1.11084 lower bearish, target 1.09945, 1.09119
Alternative strategy: 1.11084 upside bullish, target 1.11956, 1.12693
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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