Price has started to reject from Weekly resistance. In 4H time frame, the price has broken through the minor support and a potential retested the said support.
In COT report, the net position of GBP is decreasing and hedge fund has been closing a lot of long positions. This action has brought the price to the downside too. Thus, in this situation, we foresee GBPUSD will be bearish and the price will be pushed to the downside.
Kindly take note that my analysis is based on COT report and technical analysis .
Also, we always reacting to the market instead of predicting the market.
In COT report, the net position of GBP is decreasing and hedge fund has been closing a lot of long positions. This action has brought the price to the downside too. Thus, in this situation, we foresee GBPUSD will be bearish and the price will be pushed to the downside.
Kindly take note that my analysis is based on COT report and technical analysis .
Also, we always reacting to the market instead of predicting the market.
Comment:
After a minor bullish, the price seems to have a sell signal at the moment.