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GBPUSD: low rise
2023-07-30
789
Fundamental analysis:
GBP/USD remained volatile around 1.28558. The Bank of England is almost certain to raise interest rates by 25 basis points to 5.25% next week, and due to high inflation, a surprise rate hike of 50 basis points cannot be ruled out.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low bulls are rising strongly, the market bulls are constantly moving up, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 1.28798 1.29033
Support levels: 1.28196 1.27983
Trading strategy: Bullish above 1.28431, target 1.28798 1.29033
Alternative strategy: bearish below 1.28431, target 1.28196 1.27983
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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