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GBPUSD: Move high bit down

Fundamental analysis:

The pound remained volatile against the dollar at 1.18176. British Prime Minister Sunak: The UK will not seek to establish any relationship with Europe that depends on EU laws. The UK (its laws) will not be consistent with EU laws. The realization of regulatory freedom is an important opportunity for the UK to leave the EU. Chancellor Hunter will put forward more suggestions on supporting energy intensive enterprises at an appropriate time. The Chancellor of the Treasury is committed to providing more energy support for enterprises, Energy support in the commercial field will be more targeted.

GBPUSD GBPUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the momentum of high short positions maintains a narrow range and slowly declines, and the market short positions begin to emerge. The MACD indicator is in the long position and moves down to the weak position near the 0 axis, while the RSI indicator is in the weak position below the 50 equilibrium line;

Multi empty turning point: 1.18343

Pressing: 1.18950, 1.19479

Support: 1.17618, 1.17079

Trading strategy: 1.18343 lower bearish, target 1.17618, 1.17079

Alternative strategy: 1.18343 upside bullish, target 1.18950, 1.19479

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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