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GBPUSD: high volatility
2022-12-02
1071
Fundamental analysis:
GBP/USD remained oscillating around 1.22474. According to the survey of the Bank of England's decision-making expert group, members expect the CPI to be 7.2% in the coming year, lower than the 7.6% in October. Businesses expect higher interest rates to lead to lower investment and employment. British businesses expect prices to rise by 6.2% next year. UK businesses expect inflation to reach 7.2% in 1 year and 3.9% in 3 years.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is pulling up strongly, the high level is short-term resistance and shocks, the overall market is shrouded in bullish sentiment, the MACD indicator is in the bullish zone and the trend is rising, and the RSI indicator is in the bullish zone for consolidation;
Long-short turning point: 1.22280
Suppression: 1.22857, 1.23249
Support: 1.21888, 1.21529
Trading strategy: Bullish above 1.22280, target 1.22857, 1.23249
Alternative strategy: bearish below 1.22280, target 1.21888, 1.21529
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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