GBPAUD:
There is some horrific position building going on here! The question is, which type: long or short? My guess (that's all it is) is the MMs are building long. I guess this way due to the fact the MMs whacked the price in the early part of the LS followed with long lower wicks at the lows below the half number, indicating persistent attempts at accumulating longs at low prices. And though the US session exhibits such wicks both top and bottom, the bottom ones are dominant, with most of this price action below a whole number. We'll just have to wait and see how it actually turns out.
There is some horrific position building going on here! The question is, which type: long or short? My guess (that's all it is) is the MMs are building long. I guess this way due to the fact the MMs whacked the price in the early part of the LS followed with long lower wicks at the lows below the half number, indicating persistent attempts at accumulating longs at low prices. And though the US session exhibits such wicks both top and bottom, the bottom ones are dominant, with most of this price action below a whole number. We'll just have to wait and see how it actually turns out.