GBPUSD Breakdown Analysis
The Pound retraced nicely to the 62% / 70.5% Fibonacci Retracement zone, with the daily candle tapping liquidity just above the 70.5% Fib retracement. COT reports shows lots of long positions being closed in the market and big amount of short positions being opened against the Pound, suggesting a push to the downside. Drill down to the lower timeframes to get a nice short position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.