as DXY is in strong bullish trend GBPUSD will be bearish
it can be seen that support that had been intact for more than 1.5 years has been violated with a big red candle, which suggests that the pair will continue to be bearish. However, the Dollar is in an uptrend which is a major confluence of the continuation of a bearish rally. Short setups can be found on shorter TFs with higher RR considering the yellow line to be the next target that will be hit which is 1.18323
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.