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GBPUSD: high volatility
2023-05-05
830
Fundamental analysis:
Sterling remained volatile near 1.25721 against the U.S. dollar. The Bank of England survey showed that British companies expect output prices to rise by 5.5% year-on-year in the three months to April, unchanged from the three months to March. UK price expectations rose from 5.3% in March.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum maintains a volatile rise, the high level fluctuates after short-term resistance, the market is still bullish, the MACD indicator is in the bullish zone, and the RSI indicator is in the bullish zone to maintain a smooth translation;
Resistance levels: 1.25882 1.26034
Support levels: 1.25475 1.25328
Trading strategy: Bullish above 1.25645, target 1.25882 1.26034
Alternative strategy: bearish below 1.25645, target 1.25475 1.25328
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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