Today I’m going to provide an update on Friday’s GBPUSD commentary where I called for a possible fakeout. We’ll discuss key levels and targets, plus the latest on the US Dollar Index (DXY). Last Friday, I wrote about a possible fakeout developing from GBPUSD. The pair had closed above the 1.2720 key level on Thursday only to close back below on Friday. Friday’s close confirmed the fakeout from GBPUSD, opening up key levels like 1.2550 and potentially lower. So how is that idea going so far? We saw bulls test 1.2720 as new resistance on Tuesday, and so far, it’s holding up on a daily closing basis. Whether this turns ... (full story)