Weak momentum for GBP,As we can see on the chart CHF is retracing 100% from each bull impulse.
Fundamentals : GBP should be weak for a while since no BREXIT news coming up next months. But i wouldn't care less about fundamentals, big guys started to sell above 1.31, 1.33, 1.34. I wouldn't be surprised to see a drop of 3%-5% in the next weeks.
Institutional Buyers sitting at :
If 1.33 is taken out by the bulls, Potential target 1.38 (1.61 extension).
Fundamentals : GBP should be weak for a while since no BREXIT news coming up next months. But i wouldn't care less about fundamentals, big guys started to sell above 1.31, 1.33, 1.34. I wouldn't be surprised to see a drop of 3%-5% in the next weeks.
Institutional Buyers sitting at :
- 1.30 - small demand zone
- 1.27
- 1.25-22 Range
If 1.33 is taken out by the bulls, Potential target 1.38 (1.61 extension).