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GBPUSD: high rise
2023-04-14
900
Fundamental analysis:
GBP/USD remained oscillating around 1.25220. According to data from the British Office for National Statistics, the UK’s GDP in February was flat month-on-month, with a forecast of 0.1%, compared with an increase of 0.4% in January. The figures reflect the impact of widespread strike action this month, with services sector output falling 0.1% and manufacturing also flat for the month, hit by strikes by teachers and public servants.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high level keeps rising, the market bulls keep moving upwards, the short-term bullish sentiment remains, the MACD indicator is in the bullish zone and the RSI indicator is hovering at a high level in the bullish zone;
Resistance levels: 1.25381 1.25526
Support levels: 1.24974 1.24807
Trading strategy: Bullish above 1.25147, target 1.25381 1.25526
Alternative strategy: bearish below 1.25147, target 1.24974 1.24807
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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