GBP/ USD

Here on the Pound Dollar (GBP/ USD) we have an Bearish Alternate Bat pattern. Honestly i drew this pattern earlier this week and i cant remember the demensions.

With the COT datat though this is an interesting pair. The dollar index is weakening and the Pound is already bearish.

the current stats are (-8 867) and previous stats (-16 438) and these are the Net stats for the Commercials

the current Non-Commercial are 8 258 and the previous 14 799 suggesting that the DXY is still in bullish terriroty but dramatically coming out.

Note

Have some consolidation on the pattern, so im watiting on the indicators to indicate Price is exhausting itself before i enter. the DXY is showing sell but i think its testing the low before the reverse. the EXY and the BXY are doing the same but in the inverse.

Note

same as the Euro/ Dollar this pair on the Index just completed a Bearish pattern and now were waiting on the reversal. on the Dollar a big crab pattern has completed and the pair is consolidating before take off (i am guessing). by the COT data this pair is a selling pair, again we might see some market manipulation beofre COB (Close Of Business) so the Non-Commercials can alter their positions they must report to the CFTC.

ARegularGuy

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ARegularGuy