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"Inflation is on track to fall under 2 percent and so there's not much for the Bank of England to do other than to add stimulus"
- Banco Bilbao (based on Bloomberg)Pair's Outlook
GBP/USD keeps a slow pace of increase and yesterday approached a 1.6085 level and currently fluctuates in a 1.6112/35 zone, where the 20-day SMA and a weekly R1 lie. Situation on this currency pair is very vague, as price stays in a correction zone among many support levels and does not show any stronger impetus to any side. RSI also supports this idea with a value of 55.05 and forces to keep away from this currency pair just till more concrete signals will be received.
Traders' Sentiment
SWFX market data shows that 33.9% investors have a long position and 66.1% have a short position. Placed orders market is uncommonly balanced, as 50% orders are for buy and the same share for sell. Such figures tempt about a mixed situation in the market, as price might surprise with a movement in any direction.
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