GBPUSD has an opportunity to reach for some liquidity above the trendline and previous swing highs. I don't think there is an incentive to reverse the trend. But the fakeout would be a logical step in preparation for the downtrend continuation.
Before the currency can go in either direction, the big players always look to take advantage of liquidity. That would be an area that looks like there is an obvious concentration of stop-losses and I think this is it.
I don't see any major risk to the trade from the news/fundamentals.
Before the currency can go in either direction, the big players always look to take advantage of liquidity. That would be an area that looks like there is an obvious concentration of stop-losses and I think this is it.
I don't see any major risk to the trade from the news/fundamentals.
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Trade was activated.