USD Index Could Be in For A Reversal, While GBPUSD Can See More Weakness
USD Index is up as EURUSD turned slightly lower, beneath 1.1200 but pair is already back up for 30pips. USD index is up from this morning, but still with three waves only from the low, so any significant change in trend remains unconfirmed.
USD Index, 1h
Cable is moving nicely down from our C) equals A) resistance level and is now falling quite nicely towards the lower side of an ending diagonal. We see a good chance for a break below the red support line which will increase odds for a continuation lower, back to May 31 low.
GBPUSD, 1H
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