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GBPUSD: low down
2023-08-10
787
Fundamental analysis:
The pound remained volatile near 1.27180 against the dollar. The market believes that the possibility that the Bank of England will not raise interest rates in September cannot be ignored. Although this possibility is only 20%, this situation may cause the pound to fall sharply.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: The short-term dynamics remain low and fluctuate downwards, the short-term decline may continue, the market as a whole shows signs of continuing to move downwards, the MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line ;
Resistance levels: 1.27543 1.27826
Support levels: 1.26905 1.26644
Trading strategy: bearish below 1.27290, target 1.26905 1.26644
Alternative strategy: Bullish above 1.27290, target 1.27543 1.27826
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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