Market Outlook of GBPUSD on Thursday October 2023

Technical Analysis
GBPUSD have big potential to buy around 1.21059. 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 strong US dollar has a number of implications for the US economy. It makes imports cheaper, which can help to reduce inflation. However, it also makes US exports more expensive, which can hurt US exporters. Additionally, a strong US dollar can make it more difficult for US companies to compete with foreign companies.

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