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GBPUSD: short positions continue to move down
2022-08-23
1096
Fundamental analysis:
GBP / USD kept fluctuating around 1.17631, and the trend of Britain sliding into recession was strengthened. Data show that the inflation rate in the UK has jumped to more than 10%, the wage growth has lagged far behind the price rise, and consumer confidence has dropped to a record low.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the market is shrouded in short-term sentiment, and there is no sign of stopping the short-term decline, and there are signs of continuing to move downward. MACD indicator is in the low-level weak consolidation of the short area, and RSI indicator is in the short area and remains in a narrow range;
Long and short turning point: 1.17791
Pressing position: 1.18187, 1.18590
Support position: 1.17193, 1.16834
Trading strategy: bearish below 1.17791, targets 1.17193 and 1.16834
Alternative strategy: bullish above 1.17791, target 1.18187, 1.18590
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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