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GBPUSD: low move down
2023-02-17
1127
Fundamental analysis:
GBP/USD remained volatile around 1.19871, as the Swiss Federal Council adopted a decision on further development of negotiations on a bilateral trade agreement between Switzerland and the United Kingdom. The decision was negotiated by the relevant parliamentary committees and state government meetings.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: The low-level short-term momentum continues to fluctuate and move down, the short-term decline may continue, the market's short-term sentiment emerges, the MACD indicator is in the short-selling area and slowly moves down, and the RSI indicator is in the short-selling area and maintains a downward trend;
Long-short turning point: 1.20008
Suppression: 1.20295, 1.20551
Support: 1.19645, 1.19458
Trading strategy: bearish below 1.20008, target 1.19645, 1.19458
Alternative strategy: Bullish above 1.20008, target 1.20295, 1.20551
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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