GBPUSD Analysis – September 15, 2023

The GBP/USD currency pair has experienced a downward movement, declining from 1.2745 to a low of 1.2395. Currently, if the resistance level at 1.2547 remains intact, it is likely that the downward movement will persist, with the next target being around the 1.2300 area. However, it is important to note that a break above the resistance level at 1.2547 would indicate that the downside move has potentially concluded at 1.2395, suggesting a possible reversal. In such a scenario, the next target for the pair would be around the 1.2630 area. Traders and investors should closely monitor the price action and be prepared to react accordingly based on whether the resistance level holds or breaks.