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GBPUSD: low move down

2023-05-19
804
Fundamental analysis:

GBP/USD remained volatile around 1.24075. British Defense Secretary Wallace said at a joint press conference after talks with German Defense Minister Pistorius on the 17th local time that Ukraine was in the middle of a conflict and it was obviously inappropriate to join NATO now .

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: The low-level short-term dynamics continue to fluctuate and move down, the short-term decline has not stopped, the market is shrouded in bearish sentiment, and there is a trend of continuing to move downward in the short term.

Resistance levels: 1.24351 1.24529

Support levels: 1.23902 1.23737

Trading strategy: bearish below 1.24157, target 1.23902 1.23737
Alternative strategy: Bullish above 1.24157, target 1.24351 1.24529

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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