Observing the 1Hr chart we can see a clear break down on the DXY falling below the rising uptrend and forming a retest of the key support/resistance trendline.
If we do not see a correction to the upside we anticipate a long term bearish momentum to the downside.
GBPUSD (weighted average)
Potential retracement prior to a strong move to the upside? (Await confirmation breaking through the upward trendline medium.
GBPUSD (Long continuation)
Sharp break lower below the rising trendline but we now see strength bringing the GBPUSD into contention for upside momentum
Short term we see the GBP gaining strength watch n see how the key DXY news may weaken over the coming days.
Happy trading
If we do not see a correction to the upside we anticipate a long term bearish momentum to the downside.
GBPUSD (weighted average)
Potential retracement prior to a strong move to the upside? (Await confirmation breaking through the upward trendline medium.
GBPUSD (Long continuation)
Sharp break lower below the rising trendline but we now see strength bringing the GBPUSD into contention for upside momentum
Short term we see the GBP gaining strength watch n see how the key DXY news may weaken over the coming days.
Happy trading