GBPUSD has been a challenging pair to read and even harder to trade since December. However, the recent price action on the US Dollar Index (DXY) and even the pound’s counterpart, the EURUSD, offer some clues. I discuss those clues in today’s video and share an update on the DXY. GBPUSD has been sideways since December, making it an unfavorable currency pair to trade. However, an opportunity may be close. We’re seeing early signs of weakness from the euro while the DXY attempts to break above 103.50. Furthermore, the longer a market consolidates, the more explosive the eventual breakout is likey to be. So, ... (full story)
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2024-01-23 23:15:00Z
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