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GBPUSD: wide range shock
2023-04-23
846
Fundamental analysis:
GBP/USD remained volatile around 1.24288, with the Bank of England under pressure to raise interest rates further in the coming months as UK inflation continued to remain in double digits in March. Tight monetary policy and further tightening of fiscal conditions will, together with high inflation, put further pressure on households, creating a vicious cycle for everyday consumers.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: Short-term short-term momentum maintains a wide range of shocks. Although the market lows have reversed and moved up, the overall trend is still in a huge shock. ;
Resistance levels: 1.24562 1.24795
Support levels: 1.24117 1.23947
Trading strategy: bearish below 1.24335, target 1.24117 1.23947
Alternative strategy: bullish above 1.24335, target 1.24562 1.24795
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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