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- BNP Paribas (based on Reuters)
Pair's Outlook
There were no surprises on Friday, as the GBP/USD currency pair experienced the anticipated decline, also managing to remain above the 1.22 major level. The outlook remains unchanged, with the Cable expected to keep sliding down today. However, the 1.22 mark now risks getting broken, despite technical indicators retaining mixed signals in all timeframes. Meanwhile, a tough resistance area is weighing on the pair just above the opening price, whereas the weekly S1 at 1.2138 acts as the nearest support; however, the exchange rate is unlikely to reach the given support level today.
Traders' Sentiment
Today 64% of all open positions are long, compared to 67% on Friday. At the same time, the portion of sell orders added two percentage points over the weekend, having risen to 60%.
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