© Dukascopy Bank SA
- Saxo bank (based on Bloomberg)
Pair's Outlook
After the test of the 200-day SMA at 1.5859 in the end of last week, GBP/USD pair steps higher and currently is traded at 1.5915. The pair retreated from the weekly S1 level at 1.5844 and now easily moves towards the 100-day SMA and the weekly R1, which intercept at 1.5944 level. Considering an uptrend scenario, 1.5932-1.5967 range will be the area, where majority of levels and moving averages converge. And for a downtrend, 1.5784 level will be very important, as the weekly and monthly S2 levels and the lower Bollinger line cross.
Traders' Sentiment
GBP/USD pair still remains bullish in SWFX market, as traders have 58% bullish positions and 42% bearish positions. Pending orders segment provides a slightly bearish data, since 47% orders are for buy and 53% for sell.
© Dukascopy Bank SA