It was two weeks and 10 consecutive days of drop while UK data is not weak.
Traders abandon Pound.
This week, all attention eye on BOE Meeting which I consider as the last chance to save British Pound.
IF there is one more rate hike vote, Pound will be saved and bounce aggressively.
Otherwise, market will continue punish Pound.
The problem is that RSI is in oversold zone. Over Over Sold. So it's hard to GBPUSD drops more.
I will wait after BOE meeting to engage the trade.
This is my final view.
Traders abandon Pound.
This week, all attention eye on BOE Meeting which I consider as the last chance to save British Pound.
IF there is one more rate hike vote, Pound will be saved and bounce aggressively.
Otherwise, market will continue punish Pound.
The problem is that RSI is in oversold zone. Over Over Sold. So it's hard to GBPUSD drops more.
I will wait after BOE meeting to engage the trade.
This is my final view.