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- Commerzbank
Pair's Outlook
Monday trading session was very calm in GBP/USD pair, as it fluctuated in a narrow 50 pips range. The lower channel line lies at 1.5995 level, where we have three bottoms since September 10th and it is very possible, if the price settle below this level, we will see a more serious downside impulse. In this case, the next support zone is only around 1.5932/1.5895 area.
Traders' Sentiment
Situation in SWFX market for GBP/USD pair stays the same, holding bearish sentiments. The majority of traders, 65%, have a short position and 35% have a long position. In addition, pending orders distribution is almost equal, as 49% investors have placed orders for a long position and 51% for a short.
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