Technical Analysis
GBPUSD have big potential to buy around 1.28040. 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 1.28432 and stop loss area 1.27929.
Fundamental Analysis
Economic indicators for London today:
-GVA growth: 6.9% in 2022, expected to fall to 0.8% in 2023
-Unemployment rate: 3.3% in May 2023
-Household income: forecast to decline by 3.0% in 2023
-Job growth: forecast to rise by 3.6% in 2022
-House price growth: 10.8% in April 2023
It is important to note that these are just a few of the many economic indicators that can be used to assess the health of the London economy. The overall outlook for the city remains positive, but there are some challenges that will need to be addressed in the near term.
DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete.