GBPUSD UPDATE!!!
From my previous analysis on GBPUSD, I said that the GU will start a deeper retracement to retest the middle of the W pattern, and after the retest, price may spike down to the demand area to generate some liquidity and then continue move to the upside, as we can see, the price was exactly doing what I said in my last analysis.
From the Technical Views:
1. From the daily perspective, price is still holding well the daily strong support area, we can expect the next move to the upside if this level is continue holding and complete the creation of the bullish Elliot Corrective Waves.
From the Institutional's Views:
1. Overall bearish bias on GBP in the longer-term of view. But keep in mind, they are quite bullish on GBP in the short-term of view.
2. In the new data, more long positions were added, around 3.2k of the long. The net position from -36k all the way up to -13k at the moment, we may expect the GBP will become stronger and stronger in the short term.
How to approach GBPUSD?
1. Looking for the long opportunity at the moment, if you rules of the strategy are fulfilled.
2. Just simply long at the current price is quite risky, because the environment is indicates bearish in the lower timeframe.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on GBPUSD.
From the Technical Views:
1. From the daily perspective, price is still holding well the daily strong support area, we can expect the next move to the upside if this level is continue holding and complete the creation of the bullish Elliot Corrective Waves.
From the Institutional's Views:
1. Overall bearish bias on GBP in the longer-term of view. But keep in mind, they are quite bullish on GBP in the short-term of view.
2. In the new data, more long positions were added, around 3.2k of the long. The net position from -36k all the way up to -13k at the moment, we may expect the GBP will become stronger and stronger in the short term.
How to approach GBPUSD?
1. Looking for the long opportunity at the moment, if you rules of the strategy are fulfilled.
2. Just simply long at the current price is quite risky, because the environment is indicates bearish in the lower timeframe.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on GBPUSD.
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.