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GBPUSD: high volatility
2023-06-22
734
Fundamental analysis:
GBP/USD remained oscillating around 1.27657, and the UK CPI remained at 8.7% in April, breaking the market's decline expectations, which increased the possibility of the Bank of England raising interest rates by 50 basis points instead of 25 basis points on Thursday.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level fluctuates within a narrow range, the market bearish sentiment continues, and there is a short-term trend of continuing to fluctuate and move downward.
Resistance levels: 1.28109 1.28419
Support levels: 1.27306 1.26990
Trading strategy: bearish below 1.27780, target 1.27306 1.26990
Alternative strategy: bullish above 1.27780, target 1.28109 1.28419
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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