GBPUSDDXY Trading catalysts during range-bound days are not always easy to identify, but it’s possible to recognize when it’s happening. A great example is AMD, which performed well today in line with the Higher Time Frame trend. Distribution is the key moment when you can recover what you lost while trading in the range earlier.
DXY has had a good run since 27th of Sept. With a huge burst of volume on the 6th of Nov pushing prices to 105.11. We have now exceeded this price with low volume buys and beginning to retrace back. RSI AND MACD divergences are also at play. I do expect the dollar to fall back to retest 104.3 in the coming days. It may even start today with the news. I am therefore bullish on GBPUSD going up from today.