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GBPUSD: The bulls continue to pull up
2022-09-30
1145
Fundamental analysis:
The pound remained volatile against the dollar at 1.11096. In order to prevent the further spread of the financial crisis, the Bank of England announced that it would temporarily purchase long-term government bonds from September 28 to October 14 to restore the order of the market. The scale of each operation would not exceed 5 billion pounds. However, it kept its target of reducing its holdings of government bonds by 80 billion pounds a year unchanged.
GBPUSD GBPUSD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of the low bulls keeps surging, the short-term bullish mood continues, and the bulls have a further upward trend. The MACD index stays in the short position area and keeps surging up and hovering near the 0 axis, and the RSI index stays in the 50 balanced line side weak shock;
Empty turning point: 1.10778
Pressing position: 1.12054, 1.13140
Support position: 1.09746, 1.08742
Trading strategy: 1.10778 upside bullish, target 1.12054, 1.13140
Alternative strategy: 1.10778 bearish, target 1.09746, 1.08742
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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