Buyers soaking up sellers in the GBPUSD to build for a move up

The Pound may be putting in the groundwork to hold a higher low above the 1.2824 level. Expect to see further action below 1.2869 as buyers will need to soak up some further selling pressure. With our proprietary indicator suggesting a lot of short sellers built up and potentially more to come, we see a bit of fuel to put the squeeze on and send price higher. Watch now for some higher lows to build up for a entry through 1.2869 then 1.2905.

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