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GBP/USD vs. DXY: Long Correlation Trade
U.S. Dollar Index
Long
GBP/USD vs. DXY: Long Correlation Trade
By WallStreetIntelligence
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May 22, 2022
3
May 22, 2022
DXY vs. GBP/USD Long Correlation Trade:
DXY shows bearish price action:
> bearish trendline break
> First lower high + lower low
> Muliple-MA break
> Head-n-Shoulder Formation
GBP/USD demonstrates a high negative correlation with DXY . To keep the spread tight, I would suggest going long GBP/USD , instead of short DXY .
DXY pullback overdue, wall street bank chatter confirms this.
Beyond Technical Analysis
Chart Patterns
correlation
Forex
GBPUSD
pound
priceaction
Trend Analysis
USD
usdindex
wallstreetintelligence
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