© Dukascopy Bank SA
- Forextell (based on PoundSterlingLive)
Pair's Outlook
The Sterling managed to regain some value against the US Dollar on Friday, having edged 47 pips higher that day. However, compared to the previous movements the pair remained relatively unchanged, unable to reach any significant level. The outlook is unchanged, as there is no impetus for serious developments present today. Meanwhile, technical indicators are giving bearish signals, suggesting the GBP/USD pair could gravitate back towards the 1.29 mark, rather than remaining unchanged again. The nearest area to limit the gains rests at 1.3033, namely the weekly PP, whereas the weekly S1 represents immediate support at 1.2724.
Traders' Sentiment
Now 65% of traders are long the Pound (previously 63%), while the number of sell orders inched up from 50 to 58%.
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