Currently we have two factors making GBP/USD really unattractive for market makers, day traders: Strong USD and very little consolidation and weak GBP without any consolidation. That combination is extremely seldom but now it happens. GBP/USD not even consolidated 15 pips. I could see how probably algos capped retrace at 1.2512. This is typical to trap the long retail trader but also professionals.
I'm not sure why market behaves like that since last 3 days but I don't like it. It seems like some big market movers are not there currently but I have to less experience in that to valuate that.
From statistical view we have a strong bias to bigger moves intraday which is very uncommon. Cheers.
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