Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.35250 zone, GBPUSD is moving within a descending channel, with price correcting higher toward the 1.35250 resistance zone — an area that previously acted as support.
Meanwhile, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching the 98.100 support area, which may influence GBPUSD direction if buyers step in.
Watching how GBPUSD reacts at 1.35250 in relation to DXY’s behavior could provide insight into whether the current correction ends or extends further.
Trade safe, Joe.
Meanwhile, the U.S. Dollar Index (DXY) remains in an uptrend and is approaching the 98.100 support area, which may influence GBPUSD direction if buyers step in.
Watching how GBPUSD reacts at 1.35250 in relation to DXY’s behavior could provide insight into whether the current correction ends or extends further.
Trade safe, Joe.
Trade active
There is a potential retrace from the 1.34600 breakout, with stagflation CPI in the UK we expect GBP to continue weakening against the dollar!
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Free Telegram Group:
t.me/+MDJZTdS-Mw0xZTA0
The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
t.me/+MDJZTdS-Mw0xZTA0
The 1% Traders Club:
t.me/+C08gijSq2PMyZTVk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.