More two-way action.
Yesterday saw the GBPUSD surge higher on the back of the snap election and thoughts it would solidify the mandate for UK PM Theresa May in her Brexit negotiations. That AND speculative shorts out there, helped contribute to the squeeze higher. There was a capitulation surge in the NY afternoon that saw the pair move up 1.2902 in what was a 110 pip move in less than a minute. Were a good chunk of the shorts squeezed out on the move? or are there more still feeling the pain?
Forex technical analysis: GBPUSD moves sideways after yesterday’s surge higher
