From the daily perspective, the price was break below the daily structure and retested it, and expect a further downside form here to the daily support area.
From the COT perspective, hedge funds are keep closing their long and short positions on GBP for few weeks, but the GBP is keep pushing to the upside without adding any long positions on GBP, this implied that they want short at a better price, in simple language, they want to sell at a higher price. And in the lastest week, they finally adding around 4k of short position on GBP, so GBP become weaker in the following week is expected.
I have executed the trade with my members last Thursday and we are expected more further downside from the next week!!!.
Remember, always reacting to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.
From the COT perspective, hedge funds are keep closing their long and short positions on GBP for few weeks, but the GBP is keep pushing to the upside without adding any long positions on GBP, this implied that they want short at a better price, in simple language, they want to sell at a higher price. And in the lastest week, they finally adding around 4k of short position on GBP, so GBP become weaker in the following week is expected.
I have executed the trade with my members last Thursday and we are expected more further downside from the next week!!!.
Remember, always reacting to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.