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GBPUSD: Bulls pull up
2022-12-01
1132
Fundamental analysis:
GBP/USD remained volatile around 1.20486. Boosted by the hawkish voices of many Fed officials this week, the US dollar showed signs of rebounding from low levels. However, the pound, which had been quite aggressive in the past two weeks, retreated for two consecutive trading days this week. The trend of the pound depends largely on the face of the dollar.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls is rising rapidly, short-term bullish sentiment is emerging, the market as a whole is in the epicenter of a wide range of shocks, the MACD indicator is hovering around the 0 axis, and the RSI indicator is weakly finishing above the 50 balance line;
Long-short turning point: 1.20301
Suppression: 1.20776, 1.21098
Support: 1.19996, 1.19700
Trading strategy: Bullish above 1.20301, target 1.20776, 1.21098
Alternative strategies: bearish below 1.20301, target 1.19996, 1.19700
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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