GBPUSD UPDATE!!!
From the Technical Views:
1. From the daily perspective, price broke above the new daily structure as shown on the chart, expect a pullback to this area before further upside.
2. But this new structure area can be a good manipulation level for the big players because below of this structure, we have a strong demand area, this can good for them spike the price to the downside to generate their liquidity to stop hunt those long at the new structure area.
From the Institutional's views:
1. Overall bearish bias on GBP in the longer term of view.
2. But keep in mind, they are quite bullish on GBP in the short term view, more long positions were added and short positions were closed. In the new data, the net position slightly decreased around 2k, 4.7k of long added and 7.2k of short added.
Implication: During GBP move to the upside, more short added but long remain added/open, implied that they still bullish on GBP, open more short positions is just for creating the retracement, induce all the retail traders to go for short, and good for them to generate their long liquidity.
How to approach GBPUSD?
1. Waiting for the market retest the new structure area.
2. After that, look for the long opportunity if the lower timeframe will show a bullish signal on the new structure area. Otherwise, it can be a manipulation to spike the price down to the demand area and stop you out then continue moving to the upside.
3. Only the lower timeframe shows a valid entry, then only can go for long, otherwise, the market can continue to move to the downside. Since big players are still bearish bias on the GBP in the longer-term of view.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on GBPUSD.
1. From the daily perspective, price broke above the new daily structure as shown on the chart, expect a pullback to this area before further upside.
2. But this new structure area can be a good manipulation level for the big players because below of this structure, we have a strong demand area, this can good for them spike the price to the downside to generate their liquidity to stop hunt those long at the new structure area.
From the Institutional's views:
1. Overall bearish bias on GBP in the longer term of view.
2. But keep in mind, they are quite bullish on GBP in the short term view, more long positions were added and short positions were closed. In the new data, the net position slightly decreased around 2k, 4.7k of long added and 7.2k of short added.
Implication: During GBP move to the upside, more short added but long remain added/open, implied that they still bullish on GBP, open more short positions is just for creating the retracement, induce all the retail traders to go for short, and good for them to generate their long liquidity.
How to approach GBPUSD?
1. Waiting for the market retest the new structure area.
2. After that, look for the long opportunity if the lower timeframe will show a bullish signal on the new structure area. Otherwise, it can be a manipulation to spike the price down to the demand area and stop you out then continue moving to the upside.
3. Only the lower timeframe shows a valid entry, then only can go for long, otherwise, the market can continue to move to the downside. Since big players are still bearish bias on the GBP in the longer-term of view.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on GBPUSD.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.