© Dukascopy Bank SA
- Scotiabank (based on PoundSterlingLive)
Pair's Outlook
The Cable surprised with its performance on Wednesday, as it remained completely flat after experiencing some downside pressure. The pair is expected to experience another leg down today, with technical indicators bolstering this possibility. The weekly PP on top of the 1.30 major level remains the closest support, whereas the key one is still located around 1.2880, represented by the Bollinger band, the weekly and the monthly S1s. However, the key support is unlikely to be reached today, as the 1.2950 level could also limit the losses, as it has been doing for nearly two weeks now.
Traders' Sentiment
Today 55% of traders have a positive outlook towards the Sterling, compared to 51% on Wednesday. The number of buy orders, on the other hand, dropped down from 56 to 51%.
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