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GBPUSD: low volatility
2023-02-09
1053
Fundamental analysis:
GBP/USD remained volatile around 1.20712, as the Bank of England's attitude led investors to expect the Bank of England to end soon and possibly reverse its monetary tightening cycle.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
4-hour chart: The momentum of the low-level bulls maintained a narrow range and moved up, and then began to weaken. The short-term bulls’ pull-up trend began to weaken, but the market still showed signs of waiting for opportunities to enter the market. The MACD index was in the short-term area and the RSI index was below the 50 balance line. Weak side wandering;
Long-short turning point: 1.20574
Suppression: 1.20948, 1.21217
Support: 1.20267, 1.19998
Trading strategy: Bullish above 1.20574, target 1.20948, 1.21217
Alternative strategy: bearish below 1.20574, target 1.20267, 1.19998
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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