GBP USD TECHNICAL ANALYSIS
Long-term chart is showing to us that As long as GBP USD will stay above 1.360+_ Key support the trend is up – it’s not the case right now!
Below 1.3170 price area, it could bring larger down trend resumption, while we have first to meet 1.3080. On the downside, break of 1.2840 support will indicate short-term topping. If it will fail to stay above the level, it will be turned back to the downside for 1.2640 support current
As a long as GBP USD will trade above 1.3170 the near resistance will stay on 1.3560-1.3670+_, those are the near areas for small correction after the long decline from 1.4360
My scenario predict a correct move to those areas when it will arrive there – need to test again
 |
| GBP USD ANALYSIS |
 |
| GBP USD |
As I wrote the last post about COT position: the case was filled with an unexpected big position to fill the gap
These were the COT position map :
we can see an interesting view from this report
The report is divided into several groups, and what is interesting is that you can see that the price of the pound from the low level of 2016 to the present is accompanied by several contradictions that are not usually seen in the foreign exchange markets and especially in the positions report
The holding of executive bodies is rising on the property over the last year – similar behavior was in March 2017 – suggesting that the pound will strengthen further against the dollar
On the other hand, the holdings of dealers (net positions) are only decreasing, which is not usually consistent with the distribution of positions, because there is always a certain balance between the two What language does not exist!
A strong player (not talking about a dealer but on a large body of course) can move the market here more easily because there is no strong second party which is very interesting
In summary, according to the picture shown, the long-term scenario for the pound is much larger right now than short, but it is enough for a big body to decide to enter a large short position to change the picture
 |
| GBP USD POSITION |
This review does not including any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice
www.daytrade-profit.com
