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GBPUSD: shock rises
2023-04-19
911
Fundamental analysis:
Sterling remained volatile around 1.24239 against the dollar, with the UK job market less tense in February and the Bank of England still facing a difficult decision on whether to raise interest rates further despite encouraging signs of private sector wage growth.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has risen again, the bullish sentiment in the market continues, and the short-term may continue to move upward; the MACD indicator is on the 0-axis upward, and the RSI indicator is hovering around the 50 balance line;
Resistance levels: 1.24401 1.24592
Support levels: 1.23997 1.23854
Trading strategy: Bullish above 1.24151, target 1.24401 1.24592
Alternative strategy: bearish below 1.24151, target 1.23997 1.23854
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