GBPUSD, swing of the year.

GBPUSD / 1D

Hello Traders, welcome back to another market breakdown.

GBPUSD is showing strong bearish momentum after the dollar index DXY
broke above the 2 years range. However, the price is oversold 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 sell off confirms, the next leg higher could target:

First Resistance: Immediate levels formed during prior consolidation.
Second resistance: Yearly lows.


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

Trade safely,
Trader Leo.