Good Day Traders !! On this specific pair we are approaching a strong level of resistance and we rejected that level a few times in the past and we may see a new rejection shortly. We might see GBP grab some liquidity in the demand area before continuing it's move to the upside and then get enough strength and momentum to be able to break this historical zone. From an institutional perspective we are looking at a GBP that is currently loosing it's power and momentum since we went from 13700 Net position to 9600 Net position and this could also explain the size of the bullish getting smaller and smaller as we were approaching the resistance area. So On the short term I see a bearish GBP/USD !!
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Trade safe !!!
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 !!!