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GBPUSD: strong surge

2023-04-30
784
Fundamental analysis:

GBP/USD remained volatile around 1.25637, and the Bank of England is about to raise interest rates. The GBP has also been supported by this factor recently to maintain its stability. Of course, for GBP/USD at present, it mainly depends on the face of the dollar trend in the short term.

GBPUSD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum has soared strongly, the market is shrouded in bullish sentiment, the short-term bullish momentum has a further upward trend, the MACD indicator is in the bullish zone and moves up, and the RSI indicator is in the bullish zone. High volatility;

Resistance levels: 1.25789 1.25928

Support levels: 1.25360 1.25190

Trading strategy: bullish above 1.25516, target 1.25789 1.25928
Alternative strategy: bearish below 1.25516, target 1.25360 1.25190

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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