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- DailyFX (based on Business Recorder)
Pair's Outlook
Monday ended with the Cable remaining relatively unchanged, amid a weaker US Dollar, mainly due to yesterday's US political debates. Nevertheless, there is no event that could help the Sterling recover from intraday losses today, thus, we should see another leg down, as technical indicators suggest. The key support, preventing the pair from falling to Brexit lows, is still the cluster around 1.2880, represented by the Bollinger band, the weekly and the monthly S1s. At the same time, the weekly PP is keeping the GBP/USD pair from climbing back over the 1.30 major level, being the closest resistance.
Traders' Sentiment
Bulls lost some numbers over the day, as 54% of all open positions are now long (previously 58%). The share of buy orders also declined, namely from 72 to 56%.
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