Daily Market Analysis 31 Aug 2022

Daily Market Analysis 31 Aug 2022

  • Market News
  • Daily Market News
  • 2022, 31 August

GBP/USD

GBP/USD pair recently breaks down its previous swing low, making lower lows situation on the daily chart. If price sustains below (1.1650), i, then we can expect a sharp fall of up to (1.1560). Otherwise, “Sell on rising” is the best course to play with. It is trading in a downtrend Channel, making lower lows and lower highs.



Technical Indicators
Action
RSI (32)
SELL
Oscillator (9)
SELL
MACD (below Midline)
SELL
200 EMA (1.280) 
SELL

 
Strategy


Scenario 1 
Scenario 2 
Action
Sell
Sell
Entry
1.1670
1.1680
Target 1
1.1640
1.1650
Target 2
1.1610
1.1620
Stop Loss
1.1700
1.1710


Key Signposts

GBP: No key data

RELATED ARTICLES

View All
NFP Facebook Contest

MOST POPULAR