From a COT perspective, we can notice that the GBP is continuing its strong growth in long contract sizes. From a technical perspective, in the beginning of August we also got a strong confirmation that price will remain above the monthly upper trendline. This is a clear indicator that GBP/USD will continue its momentum towards the 1.35000 Area
Price will start this movement from either the 130.0000 area or from the 1.28000 where we have a triple confirmation zone (0.236 Fibonacci level, monthly critical area and the monthly upper trendline).
Happy Trading!
Price will start this movement from either the 130.0000 area or from the 1.28000 where we have a triple confirmation zone (0.236 Fibonacci level, monthly critical area and the monthly upper trendline).
Happy Trading!