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GBPUSD: Climbing High

2023-06-16
745
Fundamental analysis:

Sterling remained volatile near 1.27828 against the dollar, and British interest rates are also expected to rise higher than U.S. rates this year. A surge in sterling could be a key factor next week as the risk of disappointing expectations mounts.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising at a high level, the market is still bullish, the market bulls are constantly pulling up, the MACD indicator is moving up from the high level in the bullish zone, and the RSI indicator is in the bullish zone and fluctuates at a high level;

Resistance levels: 1.28045 1.28290

Support levels: 1.27340 1.27078

Trading strategy: Bullish above 1.27638, target 1.28045 1.28290
Alternative strategy: bearish below 1.27638, target 1.27340 1.27078

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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