We have this double bottom on the H1 formed at 93.93, where price could be heading for an area of support. we will see how price reacts once around this area
We have finally broken out of this 9/10 week range on the DXY, we should finally see more impulsive moves rather than smaller moves which we have been seeing on XXX/USD pairs.
DXY is at this moment in time leaning for myself more towards a bearish bias for the day, we have bounced off the resistance which is the high of the week of 24th august with London creating the high of the day for the DXY, again with the DXY updates will follow throughout the day.
GBPUSD. London has seemed to wick up at 8am with could potentially be the high of the day, we are still early on so thing could change ( updates will follow if so) however one thing I am keeping in mind is the fact we are bouncing around June high, which could be acting as a support. Will be interesting to see how price reacts around this area.
Great looking pair over the next week or so, should see a long position hit the 107.00 region and retest of the support and continue its way back down to a bearish position, around the 103.00 region
