As you know I am overall bullish on Cable, but I have had received plenty of messages about my short-term bearish view on this currency pair. Again, I think we may see a minor correction before the uptrend will resume. I think Friday’s NFP report may act as the catalyst which could drive the GBPUSD lower which would be supportive of the overall uptrend.
I don’t know who is buying this pair (I mean > 10k). To me, it looks like it is suffering from intensive scalping. 1 pip robots and similar. And the drone who is manipulating the price (up&down), looks just ridiculous. Until I don’t see the bearish drive I’m not convinced this Cable whatever is in good hands. I am shorting it but … I’ve seen enough.
Yeah I’m a cable bull as well but I wouldn’t buy it where it is at now. Like you said, it looks like there will be a correction because so far it is in a range and has failed to breakout after many attempts. I’ll be buying it after the correction if I see the right kind of price action happening.