GBPUSD Breakdown Aug 21st DXY is currently weak in Monthly down trend with Monthly Bearish Divergence. DXY has Daily Bullish Divergence. Indicating a pullback for GU. DXY is in strong trend to downside so may be another shallow pullback to 236 or 382 level as it did on previous pullback. Looking for DXY and GU to pull to Supply/Demand Zone (Support/Resistance).
GBP is currently changing monthly trend and hasn't made new highs yet on weekly so not expecting a big Pull back on higher time frame yet. Has been consolidating forming a new support level with new Daily high.
