GBPUSD touched a triple bottom support that began in October 2016. A bullish hammer candle set a nice stop area on the hourly and seems to confirm the range. The open interest on OANDA and the FX SI on DailyFX show a bearish indicator as this pair is 75% long. Also the highs within this range are slightly lower than the previous, so it seems smart money bets on a long-term break below support @ around 1.21.
However, that is not being confirmed presently. The range is being confirmed. Might be too early to bet against the Crown.
However, that is not being confirmed presently. The range is being confirmed. Might be too early to bet against the Crown.
