Good Day Traders !!
On the Monthly timeframe we have An M formation on the way, we are in the last leg and expect the price to drop. Going down to the weekly we have a "W" formation and we expect the price to drop to the neckline at least before a continuation to the upside. Going down on the daily We have completed an "M" formation pattern and we just rejected the neckline which support our bearish idea in the near future.
From an institutional perspective we can see a massive drop on Net positions on GBP and a big amount of long position added on the Cad according to the last report.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
On the Monthly timeframe we have An M formation on the way, we are in the last leg and expect the price to drop. Going down to the weekly we have a "W" formation and we expect the price to drop to the neckline at least before a continuation to the upside. Going down on the daily We have completed an "M" formation pattern and we just rejected the neckline which support our bearish idea in the near future.
From an institutional perspective we can see a massive drop on Net positions on GBP and a big amount of long position added on the Cad according to the last report.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
