CM Trade

Download APP to receive bonus

GET

GBPUSD: short low wide range oscillation

2022-08-18
1130
Fundamental analysis:

GBP / USD fluctuated around 1.20440. British Chancellor of the exchequer zaharvey: controlling inflation is my top priority. I know times are tough. We are acting through strong and independent monetary policy, responsible tax and expenditure decisions, and reforms.




GBPUSD GBPUSD - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the short driving force maintains a low and wide range of shock, and the short-term or low weak trend is maintained. The market short sentiment is shrouded, the MACD indicator is in the short area and the consolidation and translation are maintained, and the RSI indicator is in the lower side of the 50 equilibrium line;


Long and short turning point: 1.20548


Pressing position: 1.20729, 1.20966


Support position: 1.20255, 1.20080


Trading strategy: bearish below 1.20548, target 1.20255, 1.20080


Alternative strategy: bullish above 1.20548, targets 1.20729 and 1.20966

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More