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GBPUSD: move down from high
2023-01-11
1037
Fundamental analysis:
Sterling remained volatile near 1.21534 against the dollar, with strikes ravaging the health care, transport and education sectors, and expectations for the UK economy are not optimistic, but the pound has been resilient in early 2023.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The high-level short-term momentum maintains a narrow range and moves slowly down, and the market’s short-seller sentiment begins to wait for an opportunity to enter the market. The MACD indicator is in a high-level order in the bullish area, and the RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 1.21676
Suppression: 1.21957, 1.22194
Support: 1.21303, 1.21057
Trading strategy: bearish below 1.21676, target 1.21303, 1.21057
Alternative strategy: Bullish above 1.21676, target 1.21957, 1.22194
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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