GBP/USD slides to the weekly PP

The Cable maintains correlation with other greenback peers and slightly depreciated to the weekly pivot point level at 1.5177. The pair is still firmly positioned in the upper part of Bollinger band, but movement there demonstrates low volatility and absence of desire to breach upper levels. If bearish sentiments take control, the pair might recheck the 20-day SMA at 1.5075. If market recovers confidence, we are likely to see the British Pound appreciating at least till the 55-day SMA at 1.5366.

The British Pound lost a fraction of its market share, as the buy side contracted 3% and was amounting to 54%. Placed orders segment demonstrates a low degree of bearish exposure, as 54% of orders are waiting to sell the Cable.