Hi Traders, planning a buy on GBPUSD. Hedgefunds have interest to push price up to close open Long Hedges, COT data shows a clear FLIP of retail, everyone who has been long got stopped out and now we see Hedgefunds setting up for bearish USD.
However i dont want to enter right now, i expect a shakeout to 1.23 or 1.215 - if price comes back after and holds above 1.25 i´ll take an long entry to 1.295
However i dont want to enter right now, i expect a shakeout to 1.23 or 1.215 - if price comes back after and holds above 1.25 i´ll take an long entry to 1.295