GBP/USD hovers just above 1.5965

The most recent price action threatens intactness of the rising line that in turn safeguards the medium-term positive outlook. Should the support at 1.5965 give in, there the up-trend merges with the monthly pivot point, the bias towards GBP/USD will become bearish not only in the long-term perspective, but also in the short run, despite the weekly technical indicators giving ‘buy' signals.

The gap between the amounts of bullish (42%) and bearish (58%) market participants suddenly widened, although the latest tendency was for the positive sentiments to strengthen. As for the orders placed on GBP/USD, there is no notable difference between the ones to buy (51%) and the ones to sell (49%) the Sterling.