February USD NFP data came out positive, putting downward pressure on the Cable market. The bearish expansion was key to showing us the direcction of this market for the rest of the month, especially after the range bound price action in January. We are currently trading around equilibrium of the bear range expansion. We have the range equilibrium at 1.26441 a level that aligns with a 4h FVG and -BB.
The next DOL according to my analysis is 1.25000, which is an institiutional level in line with the monthly imbalance and REQL on the daily TF. I anticipate the CPI relaese for the USD on 13/02/2024 to give proper direction of the market. COT data on the other hand indicates that Institiutions are long on the GBP.
The next DOL according to my analysis is 1.25000, which is an institiutional level in line with the monthly imbalance and REQL on the daily TF. I anticipate the CPI relaese for the USD on 13/02/2024 to give proper direction of the market. COT data on the other hand indicates that Institiutions are long on the GBP.