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GBPUSD: Shock and pull up
2023-02-14
1068
Fundamental analysis:
GBP/USD remained oscillating around 1.21373. Employers in the UK are expected to raise wages this year by the largest amount since 2012. Against the backdrop of rising inflation and the related cost of living crisis, the job market continues to show surprising resilience and skilled labor remains scarce.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term bullish dynamics are oscillating and pulling up, the market’s bullish sentiment has begun to emerge, and there are signs of continued upward movement in the short term. The MACD indicator is hovering weakly below the 0 axis, and the RSI indicator is at the 50 balance line. The market is weakly finishing;
Long-short turning point: 1.21241
Suppression: 1.21649, 1.21936
Support: 1.20981, 1.20703
Trading strategy: Bullish above 1.21241, target 1.21649, 1.21936
Alternative strategy: bearish below 1.21241, target 1.20981, 1.20703
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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