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GBPUSD: finishing high
2022-11-25
1153
Fundamental analysis:
Sterling remained volatile around $1.21117 after raising policy rates by 75 basis points earlier this month and the Bank of England's Monetary Policy Committee on Dec. 15 is expected to raise rates by 50 basis points to 3.50%. Interest rates are expected to end this year at 3.75%.
GBPUSD GBPUSD - 4-hour candlestick chart shows:
A brief technical analysis:
From the 4-hour chart: after the bullish momentum continued to rise, the high level was narrowed and the market as a whole continued to climb. The MACD indicator continued to rise in the bullish area, and the RSI indicator was in the bullish area and then retraced after narrowing;
Long-short turning point: 1.20843
Suppression: 1.21505, 1.21924
Support: 1.20342, 1.19881
Trading strategy: bullish above 1.20843, target 1.21505, 1.21924
Alternative strategy: bearish below 1.20843, target 1.20342, 1.19881
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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