GBPUSD: high move up
2023-06-18
709
Fundamental analysis:
Sterling remained volatile around 1.28327 against the U.S. dollar. As the U.S. dollar moves toward balance, the pound may eventually strengthen next year; rising inflation keeps the Bank of England hawkish and supports the pound.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The high-level bullish momentum maintains shocks and moves upward, based on the market's bullish sentiment, and continues to move upward in the short term. The MACD indicator is at a high level in the bullish zone and the RSI indicator is at a high level in the bullish zone.
Resistance levels: 1.28632 1.28906
Support levels: 1.27828 1.27544
Trading strategy: Bullish above 1.28142, target 1.28632 1.28906
Alternative strategy: bearish below 1.28142, target 1.27828 1.27544
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