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"Any boost for the dollar from a solid jobs report could be limited as the recent financial market turmoil has strengthened expectations that the Fed will delay hiking rates."
- Monex (based on CNBC)
Pair's Outlook
The British Pound declined against the US Dollar on Thursday, breaching the major level of 1.53. Although the immediate support cluster was reached, the pair managed to stabilise slightly higher at 1.5257. The 55-day SMA recently pierced the 100-day one to the downside, giving a signal to sell the Sterling, but the weekly S1 at 1.5227 might still provide sufficient support in order to turn the Cable around. If the US fundamental fail to disappoint, the GBP/USD is likely to decline to 1.52 level, also bolstered by the monthly S1 and the lower Bollinger band.
Traders' Sentiment
Bulls are in the majority once more, taking up 59% of the market. The share of buy orders also increased, from 32 to 58%.
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