This weekly technical analysis update explores the U.S. Dollar Index (DXY) rebound, NVIDIA’s bullish breakout potential, GBP/USD’s trendline breakdown, and XRP’s wedge formation. Key levels and breakout zones are highlighted for traders watching short- and medium-term setups.
Weekly Technical Analysis Update: DXY Near Resistance
The U.S. Dollar Index is currently trading near 99.05, showing strong short-term bullish momentum following a clear bounce from the 97.71 support level. The price is now approaching a critical resistance at 99.44, which aligns closely with a previous consolidation zone. A breakout above this could lead to a test of the psychological and technical barrier at 100.54, followed by the bearish order block zone between 101.80 and 102.30.
However, failure to break 99.44 might result in a pullback toward the 97.71 zone again. This area serves as a short-term demand zone and will likely be a key battleground for bulls and bears.
Key Levels:
Resistance: 99.44, 100.54, 103.42
Support: 97.71, 96.52, 94.73
Weekly Technical Analysis Update: NVIDIA Fibonacci Targets
NVIDIA continues its relentless bullish trend with the price pushing above the Fibonacci 1.414 extension at 180.67. The next Fibonacci projection stands at 2.272 (237.73), which could be the ultimate target if momentum continues. Price has strongly rejected all lower retracement zones, confirming bullish strength.
Volume is supportive of this uptrend, although profit-taking may appear around 180–182 zone due to Fibonacci confluence and psychological round-number resistance.
Technical Tools Used: Fibonacci Extension, Volume Profile
Support Zones: 153.13, 119.88
Next Targets: 180.67 (1.414 Fib), 237.73 (2.272 Fib)
GBP/USD Breakdown Highlights Key Support Zone
GBP/USD has recently broken below its ascending trendline support, now retesting the 1.3340 region. This breakdown signals potential trend reversal or deeper correction, especially if price sustains below this level. The next critical demand zone lies near 1.3125, which may offer temporary support.
The breakdown was accompanied by rising volume, confirming increased selling pressure. Any recovery will need to reclaim 1.3405 to negate this bearish signal.
Bearish signal confirmed by trendline break
Resistance: 1.3405
Support: 1.3125
XRP Consolidation Points to Potential Wedge Breakdown
XRP is currently forming a rising wedge-like structure on the 4-hour chart, within a broader correction phase. Price is consolidating above $3.01 support, while failing to retest the $3.40–$3.50 resistance zone. The ascending support line remains intact, but the structure implies potential for bearish breakdown if price breaches below it.
Should a breakdown occur, targets around $2.67 would be in focus. Alternatively, a strong breakout above $3.40 could trigger momentum toward the psychological $4.00 resistance.
Watch the wedge boundaries closely for breakout clues
Support: $3.01, $2.67
Resistance: $3.40, $4.03
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