GBPUSD, Pull-back time has arrived

GBPUSD/ 1D

Hello Traders, welcome back to another market breakdown.


GBPUSD is showing strong bullish momentum after the dollar index DXY
broke below resistance. However, the price is at the overbought zone for now. Hence, instead of jumping in at current levels, I recommend waiting for a pullback into the middle of the range zone for a more strategic entry.

If the pullback holds and buy mode confirms, the next leg higher could target:

Weekly high shown in the chart


Stay disciplined, wait for the market to come to you, and trade with confidence!

Trade safely,
Trader Leo.