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GBPUSD: low volatility
2023-05-28
776
Fundamental analysis:
GBP/USD remained oscillating around 1.23499. With the gradual improvement of consumer confidence, the UK's retail sales data in April was moderately positive. Month-on-month gains in overall retail goods prices have slowed, although April CPI data showed headline inflation remained very high, especially in the food and services sectors.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: After the short-term momentum continued to fluctuate and move down, the lows fluctuated within a narrow range, the short-term decline began to weaken and consolidate, the MACD index was in the short-term consolidation, and the RSI index was hovering weakly below the 50 balance line;
Resistance levels: 1.23683 1.23882
Support levels: 1.23184 1.22958
Trading strategy: Bullish above 1.23412, target 1.23683 1.23882
Alternative strategy: bearish below 1.23412, target 1.23184 1.22958
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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