CM Trade

Download APP to receive bonus


GBPUSD: low volatility

Fundamental analysis:

The pound remained volatile near 1.18463 against the dollar. The market has not yet fully realized the degree of hawkishness of the European Central Bank and the Federal Reserve in raising interest rates. There is still room for further depreciation of the pound.

GBPUSD - 4-hour K-line chart shows:

Brief technical analysis:

The 4-hour chart shows: low-level and narrow-range consolidation, the market as a whole is in a bullish mood, moving upward slowly in the short term, the MACD indicator is in the short-term area, and the RSI indicator is hovering in the short-term area;

Resistance levels: 1.18696 1.18906

Support levels: 1.18191 1.17971

Trading strategy: Bullish above 1.18370, target 1.18696 1.18906
Alternative strategy: bearish below 1.18370, target 1.18191 1.17971

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar