ANALYSIS
NQ100 Finds Support from PPIApr 14
30 EMA Will Be Decisive in GBPUSD
Liz Truss, who received 57.4 percent of the Conservative Party’s presidential vote, was elected Prime Minister of the United Kingdom. With the removal of political uncertainties, we can see that the pound has reacted. The pressure on parity is still present, though, due to the decline in the economic indicator known as the composite PMI in August and the strong dollar. Technically speaking, the GBPUSD parity, which continues its descending channel movement, will be determined by the 1.1555 level pointed by the 30-period exponential moving average (EMA). As long as persistence is provided below this level, the bearish risk may continue to 1.1400 behind 1.1445. In the crossover above the possible 30 EMA, 1.1595 resistance can be followed.
