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GBPUSD: oscillating up

Fundamental analysis:

GBP/USD remained oscillating around 1.24965, the British ASLEF union: reject ridiculous wage proposals and set more strike dates. Train drivers will go on strike for three more days, on Friday 12 May, Wednesday 31 May and Saturday 3 June to coincide with the FA Cup final.

GBPUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum maintains a narrow range of upward fluctuations, the market’s bullish sentiment is gradually emerging, and there are signs of continued mid-to-upward pull in the short term, the MACD indicator is in the bullish area and slowly rising, and the RSI indicator is on the side of the 50 balance line and gradually moves upward;

Resistance levels: 1.25107 1.25232

Support levels: 1.24769 1.24632

Trading strategy: Bullish above 1.24907, target 1.25107 1.25232
Alternative strategy: bearish below 1.24907, target 1.24769 1.24632

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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