GBP/USD: Bears may be walking into a trap
From a technical perspective, the broader structure remains constructive. Price recently pushed into the 1.3600–1.3660 weekly supply/liquidity area, where sellers reacted aggressively, bringing the pair back toward the previous breakout zone. For me, this pullback does not automatically represent a bearish reversal. Instead, I see the 1.3505–1.3530 area as the key decision zone for the next directional move. The latest COT report shows GBP non-commercial traders holding 93,612 long contracts …
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