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GBPUSD: low narrow amplitude oscillation

Fundamental analysis:

GBP / USD remained volatile at around 1.15025. As worries about economic recession and rising interest rates hurt the market, the number of houses sold in the UK in the next 12 months will record the largest decline in at least a decade. During the COVID-19 epidemic, house prices in Britain soared because people stayed at home longer and sought more spacious living space.

GBPUSD GBPUSD - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, the short power maintained a choppy downward trend, the market was still in a low and weak position, the MACD index was in the short area, and the RSI index was in the lower side of the 50 equilibrium line;

Long and short turning point: 1.15232

Pressing position: 1.15675, 1.16090

Support position: 1.14594, 1.14230

Trading strategy: bearish below 1.15232, targets 1.14594, 1.14230

Alternative strategy: bullish above 1.15232, target 1.15675, 1.16090

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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