Market Outlook of GBPUSD on Friday September 2023

Technical Analysis
GBPUSD have big potential to buy around 1.21854. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of sellers took profit and buyers decided to involve in. Based on volume indicator the momentum for sellers is weakening.


Fundamental Analysis
The US dollar is the world's reserve currency, meaning that it is the most widely used currency in international trade and finance. It is also a safe-haven currency, meaning that investors tend to flock to it during times of economic uncertainty.

The US dollar has been strengthening against other currencies in recent months. This is due to a number of factors, including:

Rising interest rates in the United States. The US Federal Reserve is raising interest rates in an effort to combat inflation. This makes US dollar-denominated assets more attractive to investors.
A strong US economy. The US economy is still growing, despite some signs of a slowdown. This makes the US dollar more attractive to investors who are looking for a safe place to park their money.

 DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete