GBPUSD - ANALYSIS
GBPUSD is stuck in a choppy range area where price is constantly grabbing liquidation preparing for the next move. There are two factors which will move GBPUSD, the first being CPI data and the second being DXY. Positive data will push GBPUSD to the higher where a negative one will pull it down, tomorrow we could see some volatility. If the data has little to no effect then DXY will take control.
A bearish DXY or any large drop will push GBPUSD up but a positive one will push it down.
I have noticed a descending wedge which could show price breaking to the upside. Below 1.35450 and we will fall off dramatically.
GBPUSD is stuck in a choppy range area where price is constantly grabbing liquidation preparing for the next move. There are two factors which will move GBPUSD, the first being CPI data and the second being DXY. Positive data will push GBPUSD to the higher where a negative one will pull it down, tomorrow we could see some volatility. If the data has little to no effect then DXY will take control.
A bearish DXY or any large drop will push GBPUSD up but a positive one will push it down.
I have noticed a descending wedge which could show price breaking to the upside. Below 1.35450 and we will fall off dramatically.
