GBPUSD TECHNICAL OUTLOOKAfter Brexit Decision GBP crashed vertically managed to halt @ 1.19048 and lost momentum, It was in the range of 1.27600 to 120850 in last 7 months horizon. Fundamental condition still remains choppy !! Volumes improved in recent past days, Open interest raised by 3.6 %.
Expect price to trade in the range of 1.2800 to 1.31750 in coming days, Shorter term traders can Buy above horizontal level and maintain stoploss below 1.2600.
Traders position
The number of traders net-long is 9.7% higher than yesterday and 15.2% higher from last week, while the number of traders net-short is 1.2% higher than yesterday and 3.4% lower from last week.
