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"The retail sales data very much keeps September [Fed rate hike] in play."
- BAML (based on Business Recorder)
Pair's Outlook
The Cable failed to negate the previous week's losses, as it appreciated less than anticipated. The pair lacked the strength to pierce the weekly R1, thus, the Sterling remained relatively unchanged against the Buck, adding only three pips. The British currency appears to be having trouble penetrating the weekly R1 barrier this week, therefore, a decline is likely to take place today. However, from below the GBP/USD remains supported by the 55-day SMA and the 1.56 major level, which could keep the pair unchanged if fundamental data meets expectations.
Traders' Sentiment
Bullish SWFX traders' sentiment remains unchanged at 52%, whereas the share of buy orders slid ten percentage points to 54%.
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