GBP/USD settles above the 20-day SMA

GBP/USD finally settled in the upper part of the Bollinger band, as the pair rallied above the 20-day SMA, located at 1.5054, retested it and closed the session with a positive performance on Friday. Today the price is unchanged, fluctuating above the weekly PP level at 1.5038. If the price maintains bullish sentiments further, the weekly PP and the upper Bollinger band located at 1.5244 will form the first serious resistance.

Traders reduced their exposure to the British Pound, as the buy side contracted by 4% and reached 65%. Waiting orders market is little bearish, as 53% of waiting orders are to sell the Sterling.