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GBPUSD: high volatility

2023-06-15
752
Fundamental analysis:

GBP/USD remained volatile around 1.26615. The UK's employment data in May was strong. The interest rate market increased bets on the Bank of England's interest rate hike. The terminal interest rate was expected to rise to 5.80% from 5.5% yesterday.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum maintained a shock and rose and then encountered resistance. In the short term, there are signs of short-term sentiment waiting for an opportunity to enter the market. The MACD indicator is at a high level in the bullish zone and moves upward, and the RSI indicator is in the bullish zone. Shock;

Resistance levels: 1.26853 1.27106

Support levels: 1.26200 1.25940

Trading strategy: Bullish above 1.26474, target 1.26853 1.27106
Alternative strategy: bearish below 1.26474, target 1.26200 1.25940

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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