On Friday, I said to look for a pullback in GBPUSD after a move higher (www.tradingview.com/...Tkd-25082023-GBPUSD/). The turning point I gave almost marked the highs while the target I have at 1.2550 capped the lows. Yesterday market moved higher, dipped but moved back the highs. Near term, DXY seemed to have found a top (bottom for GBPUSD).
Today, UK is back from the holidays yesterday thus expect some extra volatility, while there are some high impact US news which should point to the next direction for the markets. Overall we can see that price is supported by the PZ and MBZ and capped by the DBZ and WBZ.
Looking to see if we can get a move higher to the WBZ before sell comes. For now, price has started to move up, with 1.2616 as a strong resistance. Would like to see a dip here, preferably to trade back to the PZ, find support and move higher - 1.2640 as first target, with a possible pullback then a move higher to WBZ at 1.2674.
Today, UK is back from the holidays yesterday thus expect some extra volatility, while there are some high impact US news which should point to the next direction for the markets. Overall we can see that price is supported by the PZ and MBZ and capped by the DBZ and WBZ.
Looking to see if we can get a move higher to the WBZ before sell comes. For now, price has started to move up, with 1.2616 as a strong resistance. Would like to see a dip here, preferably to trade back to the PZ, find support and move higher - 1.2640 as first target, with a possible pullback then a move higher to WBZ at 1.2674.
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