Hi!
I see an interesting moment for GBPUSD. Volumes spiked on 18 April and I see a bearish push toward 1.2865, where GBP found subsequent Longs opens. Some of those Longs already cleared today around 1.3050 area, but I see as well more Longs opened in this area as the pair touched 1.3080 area.
The range of the last hour still constitutes a good are for positioning in the light of tomorrow session, full of news influence.
Personally my opinion is that in the absence of crushing USD data, GBP will grind his road to 1.3150 in the very near future.
On the other hand, crushing USD data (always in addition to the many many other factors) may give boost to a new bearish wave toward the 1.2970 area (11 March low) or even the 1.2865 once again.
This interpretation is provided in the light of the longer-term phase that I can read for this pair.
Have a nice day!
P
I see an interesting moment for GBPUSD. Volumes spiked on 18 April and I see a bearish push toward 1.2865, where GBP found subsequent Longs opens. Some of those Longs already cleared today around 1.3050 area, but I see as well more Longs opened in this area as the pair touched 1.3080 area.
The range of the last hour still constitutes a good are for positioning in the light of tomorrow session, full of news influence.
Personally my opinion is that in the absence of crushing USD data, GBP will grind his road to 1.3150 in the very near future.
On the other hand, crushing USD data (always in addition to the many many other factors) may give boost to a new bearish wave toward the 1.2970 area (11 March low) or even the 1.2865 once again.
This interpretation is provided in the light of the longer-term phase that I can read for this pair.
Have a nice day!
P