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GBPUSD: high move up
2023-07-11
771
Fundamental analysis:
GBP/USD remained volatile around 1.28597, as inflation remains high and the Bank of England will raise interest rates by 150 basis points before the middle of next year. The interest rate differential factor seems to be more valued by investors, for which the British pound also increases the attractiveness of being bought.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of high-level bulls is rising strongly, the market’s bullish sentiment continues, and bulls are constantly pulling up.
Resistance levels: 1.28751 1.28899
Support levels: 1.28345 1.28189
Trading strategy: Bullish above 1.28518, target 1.28751 1.28899
Alternative strategy: bearish below 1.28518, target 1.28345 1.28189
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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