Analysing Forex from The Market side & perspective.
The market movement in GBPUSD successfully stopped out buyer and seller positions at once and now it is going up to increase new trading volumes and attract new traders to open positions. There is no trader positions in the mean time and The Market wont go up higher. The Market needs to pullback to make traders open sell positions and continue to go up to stop them out. This is what trader call pullback. This is an opportunity to open positions and take profit of the pullback.
The market movement in GBPUSD successfully stopped out buyer and seller positions at once and now it is going up to increase new trading volumes and attract new traders to open positions. There is no trader positions in the mean time and The Market wont go up higher. The Market needs to pullback to make traders open sell positions and continue to go up to stop them out. This is what trader call pullback. This is an opportunity to open positions and take profit of the pullback.
