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GBPUSD: high volatility
2022-12-05
1062
Fundamental analysis:
Sterling remained volatile around 1.22868 against the dollar, with British retailers expected to benefit from the key December sales season as restrictions related to the new crown epidemic end, despite continued budget pressure from consumers. This year's Christmas season will be the first time in three years that colleagues, family and friends will be able to get together without the restrictions imposed by the pandemic.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: high short-term volatility, the bulls still have signs of moving up, the market as a whole is in a bullish state, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering in the bullish zone;
Long-short turning point: 1.22638
Suppression: 1.23249, 1.23582
Support: 1.22251, 1.21888
Trading strategy: Bullish above 1.22638, target 1.23249, 1.23582
Alternative strategy: bearish below 1.22638, target 1.22251, 1.21888
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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