Following the brief sell off the week before, sellers dipped their toes towards 1.2000 and failed
Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart).
Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge
Given how oversold GBP is on all the charts, I will continue to look for intraday buy setups (mainly in the crosses) ensuring to trail stop losses tightly
The COT positioning is such that all pairs are gearing for a massive short squeeze. A clean break of Resistance level 3 and expect the flood gates to open. This is also the area where to take the safest buy trade
Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart).
Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge
Given how oversold GBP is on all the charts, I will continue to look for intraday buy setups (mainly in the crosses) ensuring to trail stop losses tightly
The COT positioning is such that all pairs are gearing for a massive short squeeze. A clean break of Resistance level 3 and expect the flood gates to open. This is also the area where to take the safest buy trade