GBPUSD has been trending lower since the beginning of last week.
Technical Analysts: First target is the April 29 low at 1.2865.
However, below that, there is little further support ahead of February 14’s 1.2773 low.
Retail traders show 70.8% of traders are net-long, with the ratio of traders long to short at 2.43 to 1.
Fact traders are net-long suggests GBPUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBPUSD-bearish contrarian trading bias.
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Technical Analysts: First target is the April 29 low at 1.2865.
However, below that, there is little further support ahead of February 14’s 1.2773 low.
Retail traders show 70.8% of traders are net-long, with the ratio of traders long to short at 2.43 to 1.
Fact traders are net-long suggests GBPUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBPUSD-bearish contrarian trading bias.
Please Like or Follow :)