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GBPUSD: hovering at a high level

Fundamental analysis:
GBP/USD remained volatile around 1.21458. It is unlikely that the UK will change its prime minister again this year, but it is not entirely impossible. International investors may choose to avoid British assets, including stocks and the British pound, in 2023, because the British political arena may still be in a state of "fever" in 2023.

GBPUSD - 4-hour K-line chart shows:

Brief technical analysis:

The 4-hour chart: the high-level short-term momentum is weak, and the short-term may maintain a high level of volatility. The market as a whole is in a high level of volatility. The MACD indicator is in the high level of the bullish area, and the RSI indicator is weak on the side of the 50 balance line;
Long-short turning point: 1.21578
Suppression: 1.21871, 1.22126
Support: 1.21213, 1.20979
Trading strategy: bearish below 1.21578, target 1.21213, 1.20979
Alternative strategy: Bullish above 1.21578, target 1.21871, 1.22126

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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