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GBPUSD: high down

Fundamental analysis:

The pound remained volatile near 1.24951 against the U.S. dollar. Members of the Royal College of Nursing, the largest nurse union in the UK, started a new round of strikes. Exacerbating the shortage of medical staff in the UK.

GBPUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: The high-level bullish momentum reversed and oscillated downward after a strong pull-up, the market’s short-term sentiment emerged, and the short-term decline may continue. In the overall bearish trend of the market, the MACD indicator is in the bullish area and continues to move down, and the RSI indicator is at 50 balance Weak finishing near the line;

Resistance levels: 1.25186 1.25324

Support levels: 1.24810 1.24663

Trading strategy: bearish below 1.25025, target 1.24810 1.24663
Alternative strategy: bullish above 1.25025, target 1.25186 1.25324

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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