DXY at resistance after US GDP number - Some analysis around expectations

DXY technical analysis

In my high level musings blog earlier in the session, I brought up the following points re the DXY:

• "US dollar index at resistance post GDP.
• The thinking here could be that expectations were/are still overdone and the path of least resistance is to the downside for now."

Take a look at the charts:

Higher time frame thoughts:

• Here you can see price is at the resistance zone we've been looking at last week.
• You have to think that if the market overpriced the GDP release, then it's going to come off and being at resistance, this isn't going to be hard.

Intraday thoughts:

• Little break of a short term level.
• Starting to get some follow through now.

If the DXY is dropping, this is good for Cable longs. Let me get to GBP/USD...