CM Trade

Download APP to receive bonus

GET

GBPUSD: low volatility

2023-08-27
738
Fundamental analysis:

Sterling remained volatile around 1.25953 against the U.S. dollar, with British consumer confidence picking up in August as a fall in inflation made people less pessimistic about their personal financial outlook, although overall confidence remained weak due to concerns about the broader economy.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: In the short term, the short-term volatility is maintained at a low level, and the market’s bearish sentiment has begun to weaken, but it is still showing signs of a bearish downward trend. The MACD indicator is in the short-term low-level order, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance levels: 1.26180 1.26326

Support levels: 1.25808 1.25662

Trading strategy: bearish below 1.26023, target 1.25808 1.25662
Alternative strategy: bullish above 1.26023, target 1.26180 1.26326

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

More