💡GBPUSD: Next prediction

💡Sterling strengthened after UK September services PMI was revised to 49.3 from the preliminary forecast of 47.2 - a forecast that may have influenced one or more of the Bank of England's five monetary policy committee members who voted to keep rates on hold last month member.

💡After the Bank of England kept interest rates unchanged in September, IMM speculators entered a net short position in the pound for the first time. As of the week of October 17, the net short position in the pound rose to 11,209 contracts.

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💡 GBPUSD considers the resistance area around 1.2230, this is the closest area we can look to sell. And if in case the price drops to the previous bottom area, then that's it, you guys just stay out.

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