Technical Analysis
GBPUSD have big potential to buy around 1.26893. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyer is weakening. Target price at 1.27883
Fundamental Analysis
As a result of these challenges, the UK economy is expected to grow by only 0.4% in 2023, down from 7.5% in 2021. The unemployment rate is also expected to rise, from 3.8% in 2022 to 4.5% in 2023.
The National Federation of Independent Businesses (NFIB) has warned that the UK economy is "on the brink of a recession". The NFIB said that businesses are facing a "perfect storm" of challenges, including rising energy costs, supply chain disruptions, and labor shortages.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete