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"As we highlighted yesterday, the break of 1.4950 has shifted the focus for a move towards the 2013 low of 1.4815."
- UOB Group analyst (based on FX Street)
Pair's Outlook
On Thursday, the Sterling sedged down versus the Buck. Although the GBP/USD pair failed to reach the 2013 low, half of the road has been already covered, as the Sterling ended the trading day at 1.4882. While the technical indicators remain neutral, the US PPI, as well as the Preliminary Consumer Sentiment, is expected to improve, thus potentially putting even more pressure of the Pound. If the data do not disappoint again, we could possibly see Cable at the 2013 low and, perhaps, even lower.
Traders' Sentiment
Bullish market sentiment among SWFX traders weakened, as 54% of market participants are long the British currency. The percentage of purchase commands, on the other hand, increased from 39 to 42%.
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