daily trend is pointing south, short positions are placed below 1.5, price trades around and flirts with a yearly critical area (please see links below), for 2 weeks bears could not push the price lower, I think it's about time go long.
trade safely with a stop, and prepare to switch if price breaks and close below the 1.5
weekly charts
also based on weekly...
GBPUSD collapsed from 1.5790, earlier and lower than we expected. We see this market to range trade for the rest of the week before declining again below lows for 2014. Given bullish sentiment measured by COT report, this could be the last leg down.
