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GBPUSD: low move down
2022-12-22
1272
Fundamental analysis:
GBP/USD remained volatile around 1.20838. According to market analysis, the Bank of England will continue to raise interest rates with a high probability of minimizing the damage to the economy. The narrowing of the interest rate spread is expected to give corresponding support to the pound to a certain extent.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains downward, the short-term decline may continue, the market is in a good position, the MACD indicator is in the short zone, and the RSI indicator is in the short zone.
Long-short turning point: 1.20948
Suppression: 1.21201, 1.21470
Support: 1.20619, 1.20410
Trading strategy: bearish below 1.20948, target 1.20619, 1.20410
Alternative strategy: bullish above 1.20948, target 1.21201, 1.21470
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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