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GBPUSD: high upside

2023-07-13
780
Fundamental analysis:

GBP/USD remained volatile around 1.29864, Bank of England Financial Stability Assessment Report: The resilience of global market-oriented finance still urgently needs to be strengthened. Given the prevalence of variable interest rates and short-term fixed-rate mortgages, the impact of higher interest rates on the British financial system is relatively small low, but has a greater impact on the real economy.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the high-level bullish momentum continues to fluctuate upwards, the market is still bullish, and there is a trend of continuing to move upward in the short term. The MACD indicator is in the high-level consolidation of the long-term zone, and the RSI indicator is in the high-level shock of the long-term zone;

Resistance levels: 1.30124 1.30339

Support levels: 1.29531 1.29324

Trading strategy: Bullish above 1.29764, target 1.30124 1.30339
Alternative strategy: bearish below 1.29764, target 1.29531 1.29324

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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