GBP/USD trades flat, decline expected

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If Fed lift-off is imminent, there is scope for short-term volatility, and this Friday's US non-farm payroll data presents some event risk, especially if it is seen to rule out (or confirm) an October hike."
- ANZ (based on WBP Online)

Pair's Outlook

The Cable's attempts to appreciate yesterday were dampened by the monthly S1 and 23.60% Fibo, while the Aug low prevented the pair from edging lower. Although the GBP/USD trades in limbo at the moment, stuck in a rather tight range, a potential market mover, namely the BoE governor's speech, could trigger a rally. Nevertheless, there is still room for a slump at least towards 1.51, where the lower Bollinger band rests, while the previously mentioned resistance keeps limiting any upside volatility; the outlook, however, remains bearish.

Traders' Sentiment

Bulls gained some numbers, as 62% of all positions are now long (previously 60%). The share of buy orders dropped from 56 to 51%.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.