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GBPUSD: high move up

2022-12-15
1051
Fundamental analysis:
GBP/USD remained volatile around 1.24250, with the Bank of England expected to raise interest rates by 50 basis points on Thursday, and expected a final rate of 4%, lower than the 4.5% currently priced in the market, as the bank expects only two rate hikes in 202325 basis points.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is slowly moving upwards, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is hovering at a high level in the bullish zone, and the RSI indicator is in a high position in the bullish zone.
Long-short turning point: 1.24073
Suppression: 1.24657, 1.24967
Support: 1.23708, 1.23343
Trading strategy: Bullish above 1.24073, target 1.24657, 1.24967
Alternative strategy: bearish below 1.24073, target 1.23708, 1.23343

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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