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GBPUSD: low up

Fundamental analysis:

GBP/USD remained volatile around 1.26282. Bank of England Governor Bailey will speak to lawmakers at the Treasury Select Committee (TSC) of the British Parliament on Wednesday; Bailey will talk about the Bank of England's MPR and FSR (respectively in August and July) published).

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

Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum remains volatile and upward, short-term bullish sentiment emerges, the market bullish sentiment continues, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is weakly hovering near the 50 balance line;

Resistance level: 1.26437 1.26608

Support level: 1.26051 1.25889

Trading strategy: Bullish above 1.26207, target 1.26437 1.26608
Alternative strategy: bearish below 1.26207, target 1.26051 1.25889

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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