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"Households can probably be encouraged to save less and less if Carney manages to talk down rates. (Guidance) can convince Joe Public that rates will stay low."
- Berenberg Bank (based on Reuters)
Pair's Outlook
Pair has seen a strong reversal from the 2013 low at 1.482 and at the moment is being stopped by the 20-day SMA. Short term technicals give strong indications about the correction of the price which should remain above the 1.50 zone. Medium term outlook, however, remains positive as it is highly unlikely pair will lose all of the current momentum right at once.
Traders' Sentiment
Bulls lost a decent chunk of the market. At the moment they account for 62% of market participants (-4% since yesterday). However, it seems that most of this change comes from the triggering of pending orders. Share of pending orders posted by the bears decreased by 5% since yesterday.
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