Market Analysis 20 June 2023

Technical Analysis
GBPUSD have big potential to sell around 1.28105. 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 buyer is weakening. Target price at 1.27643 and stop loss area 1.28441

Fundamental Analysis
The pound has been relatively stable in recent days, but it is still down from its highs of earlier this year. Some analysts believe that the pound could continue to weaken in the coming months, as the UK economy faces headwinds from rising inflation and the ongoing war in Ukraine. However, others believe that the pound could rebound, as the Bank of England is expected to raise interest rates in an effort to combat inflation.

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