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GBPUSD: low down

Fundamental analysis:

GBP/USD remained oscillating around 1.24708, British government: The UK has joined the "Horizon Europe" program under a new bespoke agreement, ensuring a relationship with improved financial terms that suit the UK and protect taxpayers. Confirmed that it will advance its own fusion energy strategy rather than cooperate with the European Atomic Energy Community program.

Pound Sterling USD GBPUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum maintains a step-wise shock and moves downward, the short-term decline has not stopped, the market is shrouded in bearish sentiment, the MACD indicator is in the short-selling area, and the RSI indicator is in the short-selling area to maintain shocks;

Resistance level: 1.25072 1.25264

Support level: 1.24490 1.24305

Trading strategy: Bearish below 1.24846, target 1.24490 1.24305
Alternative strategy: bullish above 1.24846, target 1.25072 1.25264

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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