The cable has had a strong recovery in last trading days and has broken a small falling wedge, now the price is on the 50 day simple moving average, we should see by this evening if the close will be above or below that MA. In case the price closes above the MA we might consider to buy gbpusd because in the bigger picture (weekly chart) we can notice that price has formed a sort of triple bottom and might reach 1.35 next year.
Cot report analysis highlights the fact that net shorts in GBP are shrinking and retail traders instead are starting to sell GBP (retail traders are 90% in the wrong side of the market).
I hope you enjoyed this short analysis!
Tomorrow I will post an update on this pair
Cot report analysis highlights the fact that net shorts in GBP are shrinking and retail traders instead are starting to sell GBP (retail traders are 90% in the wrong side of the market).
I hope you enjoyed this short analysis!
Tomorrow I will post an update on this pair