GBPUSD:Weak DXY and potential Upsides

١٨ ديسمبر ٢٠٢٣

In today's trading session, our primary focus is on GBPUSD, where we are closely monitoring a potential buying opportunity around the 1.26 zone. Currently immersed in an uptrend, GBPUSD demonstrates a sustained upward trajectory. Simultaneously, the currency pair is undergoing a correction phase, gradually converging towards the trend at the critical 1.26 support and resistance area. This numerical level holds significance as both a historical support point and a pivotal juncture where the correction may intersect with substantial market forces.

Our strategic approach for today's session involves identifying optimal entry points within the 1.26 zone, aligning our trading decisions with the ongoing uptrend and the potential market dynamics at the crucial support and resistance area. It is essential to navigate the correction phase with prudence and vigilance, aiming to capitalize on the identified buying opportunity within the broader context of GBPUSD's current trend.