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GBPUSD: finishing in a narrow range

2023-02-21
891
Fundamental analysis:

Sterling remained volatile around 1.20358 against the dollar, with the average asking price of a UK home rising just 14 pounds ($17) in February from January, the smallest monthly increase on record. Originally, house prices usually experienced a sharp seasonal rise in February every year.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

The 4-hour chart: the low-level bullish momentum maintains shocks and moves up and then hovers. The short-term bullish sentiment has begun to weaken, but there are still signs of upward movement. ;

Long-short turning point: 1.20287

Suppression: 1.20735, 1.21040
Support: 1.19963, 1.19645

Trading strategy: Bullish above 1.20287, target 1.20735, 1.21040
Alternative strategy: bearish below 1.20287, target 1.19963, 1.19645

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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