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GBPUSD: high rise
2023-07-12
819
Fundamental analysis:
Sterling remained volatile around 1.29309 against the US dollar, with the UK unemployment rate rising and the number of people employed fell, but importantly, wage growth was (again) higher than expected, which made the three-month average wage rate excluding bonuses recorded at 7.3%, which is the same as in 2021 The post-epidemic high in June 2019 was flat.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of high-level bulls continues to fluctuate and rise, the short-term bullish sentiment remains, the market bulls continue to climb, the MACD indicator is in the bullish zone and moves up, and the RSI indicator is in the bullish zone and continues to rise;
Resistance levels: 1.29513 1.29673
Support levels: 1.29024 1.28857
Trading strategy: Bullish above 1.29192, target 1.29513 1.29673
Alternative strategy: bearish below 1.29192, target 1.29024 1.28857
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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