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"We are in an environment where you can expect that interest rates will increase, likely at a gradual and limited pace."
- Mark Carney, BoE Governor (based on Bloomberg)
Pair's Outlook
GBP/USD has once again broken the farthest monthly support at 1.5145, implying the bias is to the downside. Previously the demand at 1.50 did not let the Sterling to come closer to the 2013 low than 200 pips and initiated a correction. Eventually the bears are expected to gain the upper hand, though it is worth noticing the mixed technical indicators, suggesting the sell-off may take even more time to develop.
Traders' Sentiment
The bulls are gradually losing their advantage over the bears. The share of the former has declined to 57% over the weekend. As for the orders, there are noticeably more commands to sell the Pound (63%) than to buy the currency (37%).
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