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- Bank of England governor (Based on Bloomberg)
Pair's Outlook
As we expected last week, GBP/USD pair reversed its movement and pulled back from a 1.6120 level down. If the currency pair continues to decrease the next support level will be around a 1.6065/50 area, where crosses the 20-day and 55-day SMAs and the weekly PP. On the other hand a long-term price decrease becomes more flatter and indicates a loss of movement's momentum, thus the price might test the upper resistance levels around 1.6160/80 soon, where the Bollinger band, weekly R1 and a down-trend line go.
Traders' Sentiment
SWFX market participants anticipate that the Dollar will gain value in a long run, as 35% traders have a long position and 65% bet on the Dollar's increase. Placed orders segment shows a balanced ratio between bulls and bears, as 49% have an order for a long position and 51% for a short.
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