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GBPUSD: wide range shock
2023-07-07
781
Fundamental analysis:
GBP/USD remained oscillating around 1.27380, and the fact that the Bank of England hesitated for so long means that it will eventually be necessary to adopt a more restrictive monetary policy to stabilize inflation expectations and limit second-round effects, which may affect the economy. bring great pressure.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bulls’ momentum remains high and fluctuates in a wide range, the market’s bullish sentiment is gradually emerging, and it will continue to move upwards in the short term.
Resistance levels: 1.27539 1.27669
Support levels: 1.27155 1.27011
Trading strategy: Bullish above 1.27309, target 1.27539 1.27669
Alternative strategy: bearish below 1.27309, target 1.27155 1.27011
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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