Note: https://www.labuschagne.nl/ps123.pdf points out that the first and third parts are to God and the middle statement is about God, but other parallels make for a more complex structure.

A. 1 Unto thee lift I up mine eyes, O thou that dwellest in the heavens.

B.  2 Behold, as the eyes of servants look unto the hand of their masters,
and as the eyes of a maiden unto the hand of her mistress;

B’. so our eyes wait upon the LORD our God,
 until that he have mercy upon us.

A’. 3 Have mercy upon us, O LORD,
 have mercy upon us:
 for we are exceedingly filled with contempt.
4 Our soul is exceedingly filled with the scorning of those that are at ease, and with the contempt of the proud.