There is a clear and obvious Head and Shoulders Pattern developing in the DXY or the US Dollar Index, (also referred to as the USDX).
This H&S Pattern was first evident in Nov 2016 when Trump won the US Elections and it is, currently, again making another appearance.
The Lower Arrow indicates 88, which is where the DXY fell to from the first occurrence of the H&S.
The Rising Trendline (marked in Green between the Upper and Lower Bounds) has been broken and I feel that it will fall substantially, after rising a bit from its current value.
All this implies a good run for the GBP and the EUR vs the USD, (in the case of the GBPUSD; a long trade till 1.3700 or even 1.4000 seems a fairly safe trade).
There is also an interesting side-effect of a falling DXY, and that is, a potential weak rise in US Equities based off the back of a weak US Dollar.
2nd Feb 2020