Hello my friends! COT Data hinting us that the big moves this week will be on GBP pairs, so pay attention to the charts!
the british pound sterling
Gave first signals that the top is in. We got signals to sell GBP against a myriad of currencies, even against the weak BRL. It’s not an extreme long position, but its same amount of lots that triggered a sell on the same period of last year. 1.42 is a really tough region to break, and this is the reason I will use it as my stop loss.
I will be aiming 1.35231 as take profit.
- STOPLOSS: 1.42397
- STOPLOSS: 1.95
- TAKEPROFIT: 1.90
Check how powerful RSI(On top of non-commercials net positions) is to identify trend change.