On the grounds of seasonal trends and the Commitment Of Traders Commercial Net Hedge, we know that the Cable is now trading with a bearish trend. If we look at the 4-Hour chart, traders are espressing the sell market sentiment on this pair with a low resistance liquidity run condition. So, based on the daily chart, there is a high probability that SELL side liquidity pool at 1.2904 will be challenged. If the momentum and the volatility is good, there is a possibility for the next daily chart SELL Side Liquidity Pool at 1.2768 will be attacked too.
In this context, we know that the Cable is following the downtrend.
* For More depth and detailed information, you can download the .pdf version from here: https://uptobox.com/c79pa8lnke6o
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com