After Exit Polls declared GBP increased sky high. But please check your charts, price was decreasing before result announced publicly, 15 minutes before declaration a group learned the results made the price move up nearly 30 pips up at 5 min chart.Then i had opened long positions and waited. Then all you know what happened.
I drawed the TRAPPING lines of current positions. Now it is up to you. If you were MARKET MAKER, where would you hold the price/push it to go?
Important Note: Sellers increase when price goes up; Buyers increase when price goes down. So both side is always profitable for MM's. Then how do they decide? They go where money stands(orders) Biggest motivation of price movement(mostly) is to make retail traders close their positions (stop loss, psychology of losing, not being patient etc) or blow their account with strong changes of the price.(easy cool money!!!)
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Today, beloved !!! Market Maker continued to trap Buyers.
If he continues likes(drop the price) than Market Maker Safe Zone may change into LIGHT TRAPPED BUYERS ZONE.
The other option is Trapped Buyers and Profitable Sellers Zone may become an ACCUMULATION/CONSOLIDATION.
GBP pairs are a massacre at the moment. Shorting long term it's not a wise decision.
Amon-Ra
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@RandyFuego, Totally agree you, if GB datas will come worse than expected than they will have a huge chance to trap buyers. But 51% untill first quarte of 2020 price will accumulate