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GBPUSD: wide range shock
2023-04-20
935
Fundamental analysis:
GBP/USD remained oscillating around 1.24385. The annual rate of headline inflation in the UK continued to be in double digits in March, and the annual rate of core inflation remained unchanged from February. The monthly data was also higher than expected, which will continue to put further pressure on the Bank of England to raise interest rates next month.
GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish sentiment in the market is still there, the long-term momentum of the bulls maintains a wide range of shocks and moves upward, the short-term bullish area continues to rise, the MACD index maintains a weak order and moves up to hover around the 0 axis, and the RSI index is in a weak order near the 50 balance line;
Resistance levels: 1.24562 1.24795
Support levels: 1.24117 1.23947
Trading strategy: bullish above 1.24302, target 1.24562 1.24795
Alternative strategy: bearish below 1.24302, target 1.24117 1.23947
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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