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GBPUSD: high order

Fundamental analysis:

Sterling remained volatile near 1.23954 against the dollar. British Chancellor of the Exchequer Hunt hoped to extend the £0.05 reduction in petrol and diesel prices for another year in the spring budget, and said he was under pressure to freeze fuel tax for another year. Whether to continue to implement these two measures depends on the decline in inflation and the recovery of economic growth.

GBPUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the high level remains volatile in the short term, and the long-short momentum in the market has not shown signs of breaking in the short term, but it is still hovering at a high level, the MACD indicator is hovering at a high level in the bullish area, and the RSI indicator is in a high level consolidation in the bullish area;

Long-short turning point: 1.23954

Suppression: 1.23290, 1.24544
Support: 1.23484, 1.23167

Trading strategy: Bullish above 1.23954, target 1.23290, 1.24544
Alternative strategy: bearish below 1.23954, target 1.23484, 1.23167

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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