© Dukascopy Bank SA
"Based on its current assessment, the committee judges that it can be patient in beginning to normalize the stance of monetary policy."
- Federal Reserve (based on Reuters)
Pair's Outlook
GBP/USD has plummeted below the weekly S1 at 1.5586 and is hovering around this year's lows. Moreover, the risk of the pair falling even lower is increasing, despite the daily and monthly technicals being to the upside. To our mind, a dip below this year's low at 1.5542 could provoke a sell-off towards the monthly S1 at 1.5484.
Traders' Sentiment
As the Pound became cheaper, the number of people believing it is under-priced relative to the US currency has increased, namely from 51% to 55%. Concerning the orders, 58% of them are set to sell the Sterling against the Greenback.
© Dukascopy Bank SA