The analysis focuses on GBPUSD and DXY. GBPUSD is in a range-bound state for months, needing a daily close above 1.3580 to breakout. Traders should avoid buying on a wick above this level. To confirm the breakout, the market has to close in the upper half, targeting 1.37 area. The DXY needs to continue its move lower, with a weekly close below 97.70 to proceed with the GBPUSD breakout. It is also mentioned that major market events are coming that can impact this pair. He advises viewers to be cautious and await market confirmation before becoming overly bullish. FOMC rate decision and the UK rate decision occurring this week can affect the GBPUSD breakout to target 1.3730 area.