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FX and Index Watch: Pullback and Continuation Setups

I am keeping an eye on a few setups across GBPUSD, GBPJPY, DXY, and US30. Several have reached levels where I expect a meaningful reaction.

Lena Brandt·Jun 26, 2026·1 min read

Market Overview

On GBPUSD daily, the recent selloff looks overdone to me. Price is sitting right on a major support cluster from the daily timeframe. I am looking for a pullback in the coming sessions rather than a continuation lower.

GBPJPY daily shows a confluence zone where a rising trendline meets a horizontal structure. I believe the pair will continue its upward trajectory from this area.

DXY on the weekly chart finally showed signs of exhaustion after testing a strong resistance cluster. My expectation is for further retracement in the dollar index.

US30 daily is consolidating in a horizontal range just below the all-time high. That resistance is holding for now. I am watching for a breakout or breakdown, but my bias remains neutral within the range.

Comments4

  • Priya Nair
    Great framework. 📈 On GBPUSD, the 1.2700 zone aligns with a key daily trendline — worth watching for a reaction before committing to direction.
  • Tom Fielding
    Pullbacks in crowded pairs are just noise until proven otherwise. Let's see if DXY holds that level before calling it a setup.
  • Sofia Reyes
    Interesting how GBPUSD and GBPJPY are both testing those zones—could the risk appetite shift be the common thread here? 🤔 DXY holding firm might tell us who blinks first.
  • Hiro Tanaka
    GBPUSD at 1.2650-70 zone is a clear 4H demand level. DXY rejection at 104.50 aligns with that. If US30 holds 44,200, I'd lean continuation over pullback.