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GBPUSD: interval oscillation moves up

Fundamental analysis:

The pound remained volatile against the US dollar at 1.18885. The British investment bank reported that the pound may recover its stability in 2023, and the economic fundamentals of the UK are improving. Britain is strengthening its control of inflation, reducing public debt, and developing long-term commercial and trade relations. This year, the pound was hit by the interest rate difference in favor of the US dollar and the deterioration of the British economy.

GBPUSD GBPUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that in the short-term high level interval shock, the bull power slowly moved up again, the MACD index was in the weak position around the 0 axis, and the RSI index was in the weak position above the 50 equilibrium line;

Empty turning point: 1.18731

Pressing: 1.19,479, 1.20,063

Support: 1.18,175, 1.17,618

Trading strategy: 1.18731 upside bullish, target 1.19479, 1.20063

Alternative strategy: bearish under 1.18731, target 1.18175, 1.17618

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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