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GBPUSD: high volatility
2022-12-09
1188
Fundamental analysis:
GBP/USD remained volatile around 1.22377, with market expectations for the Bank of England's terminal interest rate ranging between 3.5% and 4.75%. If there is still a huge divergence in expectations that BoE rates may peak after next week's BoE rate decision, the pound could see further volatility.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish dynamics are slowly moving upwards, the market is bullish, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the 50 balance line.
Long-short turning point: 1.22173
Suppression: 1.22768, 1.23147
Support: 1.21784, 1.21459
Trading strategy: Bullish above 1.22173, target 1.22768, 1.23147
Alternative strategy: bearish below 1.22173, target 1.21784, 1.21459
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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