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GBPUSD: high volatility
2023-03-17
950
Fundamental analysis:
GBP/USD remained volatile around 1.21085, British Chancellor of the Exchequer Hunt: Salary negotiations with public sector labor unions are making progress, pay attention to the situation related to Credit Suisse and the Bank of England, the news from the Swiss authorities on Credit Suisse is encouraging.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the high-level bulls keeps oscillating and moving up, and after a short-term retracement, they pull up again, the market bulls continue to emerge, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;
Resistance levels: 1.21321 1.21533
Support levels: 1.20741 1.20553
Trading strategy: Bullish above 1.20968, target 1.21321 1.21533
Alternative strategy: bearish below 1.20968, target 1.20741 1.20553
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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