EURUSD Bulls Should Be Worried: DXY Breakout | GBPUSD Confirms It DXY Breakout Signals Bearish EURUSD and GBPUSD Forex Setups 🔥 IC Markets Bonuses Up To $26k: https://dailypriceaction.com/ic-markets Disclosure: I may earn a commission if you open an account through this link, at no extra cost to you. Learn the only SMC strategy you'll ever need (FREE): https://access.dailypriceaction.com/smc-strategy The euro remains completely sideways, but the US dollar just made a move that could finally give traders some clarity. In today’s forex market outlook, I break down my complete trade plan for the DXY, EURUSD, and GBPUSD using price action, smart money concepts, market structure, break of structure, change of character, inefficiencies, OTE, and failed breakouts. **DXY / US Dollar Index** The DXY remains bullish overall after bouncing from the long-term ascending channel support that has been in place since 2011. The US Dollar Index also recently broke above a series of highs that had capped the market for nearly a year. The recent pullback has been corrective, but the DXY has now closed above a short-term descending channel and is attempting to retest it as new support. The key level is 101.33. A one-hour or four-hour close above that level would confirm a bullish change of character and potentially signal that the bottom is already in. However, if the DXY falls back inside the channel, the market could still move toward the psychological 100 level and fill the remaining inefficiency before bouncing. As long as the DXY holds above the 100 area, my upside target remains around 103.70, where we have an open gap and inefficiency from 2025. **EURUSD / Euro** EURUSD remains bearish despite the slow, sideways price action we’ve seen throughout July. The larger bearish change of character and rounded top are still intact, and the recent consolidation looks more like corrective price action following the previous bearish leg than the start of a sustainable rally. I’m using the DXY as my primary barometer for EURUSD. A DXY close above 101.33 would be my cue to begin looking more aggressively for euro shorts. On EURUSD, sellers still need to break below 1.1362 to confirm the internal change of character. From there, a continuation lower could expose the 1.1210 area. **GBPUSD / British Pound** GBPUSD has shown more movement than EURUSD, but the broader bearish market structure remains intact. Although the pound closed above 1.3508, that move occurred inside a much larger bearish structure. The true protected high remains around 1.3658 following the previous four-hour break of structure. The rally above 1.3500 also moved GBPUSD into the optimal trade entry area of the broader range before rejecting lower. The pound has now closed back inside its parallel channel, creating a deviation or failed breakout. As long as GBPUSD remains below the 1.3400 area and the top of that channel, I remain bearish and expect the market to continue moving toward the channel lows. As always, this is my opinion only and not financial advice. #ForexTrading #EURUSD #GBPUSD #DXY #SmartMoneyConcepts CHAPTERS 0:18 DXY 1:29 Free SMC Strategy 5:20 EURUSD 5:23 IC Markets Bonus 8:04 GBPUSD SMC LESSONS BoS and CHoCH made simple https://youtu.be/FE1bgD9N6DM Steal my liquidity sweep entry model (beginner-friendly) https://youtu.be/XH4TAoLCFBk Premium, discount, and OTE explained https://youtu.be/UWrvexqN3w8 Disclaimer: This video is for educational purposes only and is not financial advice. Trading forex, crypto, and other markets involves risk and may not be suitable for all investors. Always do your own research and never risk money you can’t afford to lose. I am not responsible for any losses you may incur from acting on the information in this video.