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GBPUSD: low volatility
2023-08-15
751
Fundamental analysis:
Sterling remained volatile around 1.26859 against the US dollar, and the market's attention turned to the next batch of UK data to be released this week-inflation data as well as wage and employment data. Will confirm more austerity measures to come.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term lows remain volatile, the market’s bearish sentiment continues, and the short-term decline may continue. In the overall bearish trend of the market, the MACD indicator is hovering in the bearish area, and the RSI indicator is in a weak position below the 50 balance line;
Resistance levels: 1.27239 1.27466
Support levels: 1.26617 1.26346
Trading strategy: bearish below 1.26983, target 1.26617 1.26346
Alternative strategy: Bullish above 1.26983, target 1.27239 1.27466
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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