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GBPUSD: low volatility

2022-12-29
606
Fundamental analysis:
Sterling remained volatile near 1.20193 against the U.S. dollar, with as many as 6.7 million households in the UK falling into "fuel poverty", which means that these households will have income below the poverty line after paying energy bills. Local charitable organizations said they received many calls for help during this period, but were overwhelmed by the number.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: low volatility within a narrow range, the market’s bearish sentiment remains, short-term or entangled low volatility, the market has not yet come out of the final direction guide, MACD indicator is in the short area, and RSI indicator is hovering below the 50 balance line;
Long-short turning point: 1.20304
Suppression: 1.20589, 1.20934
Support: 1.19917, 1.19658
Trading strategy: bearish below 1.20304, target 1.19917, 1.19658
Alternative strategy: Bullish above 1.20304, target 1.20589, 1.20934

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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