Hello Traders,
Today I am looking at GBPUSD and it seems like it could be a good selling opportunity it recently pulled back to the moving averages and gave a bearish engulfing candle to confirm that bears are still in the market.
Everything is also trending towards the downside except the monthly timeframe, so we might see bulls coming in the market shortly, however, this is not to say there aren't any pips to make with this trade.
Also, hedge funds are heavily decreasing the amount of GBP they are holding which is good.
Today I am looking at GBPUSD and it seems like it could be a good selling opportunity it recently pulled back to the moving averages and gave a bearish engulfing candle to confirm that bears are still in the market.
Everything is also trending towards the downside except the monthly timeframe, so we might see bulls coming in the market shortly, however, this is not to say there aren't any pips to make with this trade.
Also, hedge funds are heavily decreasing the amount of GBP they are holding which is good.