Market Analysis of GBPUSD on WEdnesday September 2023

Technical Analysis
GBPUSD have big potential to buy around 1.21393. 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.


Fundamental Analysis
On September 26, 2023, the US dollar index (DXY), which measures the value of the dollar against a basket of six major currencies, closed at 106.27, up 0.42% from the previous day. This was the highest level for the DXY since October 2022.

The dollar's strength was driven by a number of factors, including:

Rising US Treasury yields: US Treasury yields have been rising in recent months, as investors anticipate that the Federal Reserve will continue to raise interest rates in an effort to combat inflation. Higher Treasury yields make US dollar-denominated assets more attractive to investors, which tends to boost the value of the dollar.  DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete