© Dukascopy Bank SA
- Commerzbank (based on Bloomberg)
Pair's Outlook
GBP/USD pair continues to depreciate and today the price inches lower towards the key support level at 1.6011, where a downward trend-line intersects with the monthly PP and the 20-day, 55-day and 100-day SMAs. Around this level it is very likely to see some consolidation and after that a further price decrease to a 1.5860 area, where the 200-day SMA crosses with the lower Bollinger line.
Traders' Sentiment
GBP/USD pair maintains huge expectations to experience a appreciation of the Dollar, as 25% of traders have long positions and 75% have short positions. Pending orders market is much more neutral, as 44% traders have long orders and 56% have short orders.
© Dukascopy Bank SA