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GBPUSD: high volatility
2023-01-30
979
Fundamental analysis:
GBP/USD remained oscillating around 1.23922. GBP/USD encountered resistance after hitting a high of 1.2447 since early June last year, and is currently down about 0.15%. Mixed news surrounding the UK weighed on the pair's bullish bias. UK Chancellor of the Exchequer Jeremy Hunt's willingness to boost economic growth failed to impress sterling buyers.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high and wide fluctuations are slowly retreating, the market is shrouded in bearish sentiment, the short-term or continuous decline, the MACD indicator is in a narrow range of the 0-axis market, and the RSI indicator is hovering weakly near the 50 balance line;
Long-short turning point: 1.24011
Suppression: 1.24232, 1.24413
Support: 1.23719, 1.23487
Trading strategy: bearish below 1.24011, target 1.23719, 1.23487
Alternative strategy: Bullish above 1.24011, target 1.24232, 1.24413
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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