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GBPUSD: low position weak finishing
2022-08-30
1153
Fundamental analysis:
GBP / USD fluctuated around 1.17058. As the soaring energy costs pushed inflation to double digits, many institutions predicted that Britain would fall into recession later this year. This could make Sterling vulnerable.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short power fell after the low level was maintained in a narrow range, and the short-term weakness lingered. The short sentiment in the market remained unchanged, and there were signs of continuing to maintain the low level in the short term. The MACD index maintained the consolidation in the short area, and the RSI index was in the weak shock in the short area;
Long and short turning point: 1.17263
Pressing position: 1.17728, 1.18180
Support position: 1.16598, 1.16181
Trading strategy: bearish below 1.17263, target 1.16598, 1.16181
Alternative strategy: bullish above 1.17263, target 1.17728, 1.18180
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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