GBPUSD
Technical Analysis
GBPUSD have big potential to sell around 1.27128-1.27400. 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 1.26220 and stoploss area 1.27635
Fundamental Analysis
The UK economy is currently facing a number of challenges, including:
High inflation: Inflation in the UK is currently at a 40-year high, reaching 9% in April 2023. This is putting a strain on household budgets and businesses' bottom lines.
Slowing growth: The UK economy is expected to grow by just 0.3% in 2023, down from 7.5% in 2021. This is due to a number of factors, including the ongoing war in Ukraine, rising inflation, and the UK's exit from the European Union.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete