GBPUSD
Technical Analysis
GBPUSD have big potential to buy around 1.27001-1.26850. 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 1.27765
Fundamental Analysis
Here are some additional details about the UK economic condition today:
GDP growth in the UK slowed to 0.3% in the first quarter of 2023, from 0.8% in the fourth quarter of 2022. This slowdown is expected to continue in the second quarter of 2023.
Inflation. Inflation is expected to peak at around 11% in the autumn of 2023, before gradually falling back.
Interest rates. The Bank of England is expected to raise interest rates again in July 2023, taking the base rate to 1.25%.
DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete
