© Dukascopy Bank SA
- Nomura (based on Reuters)
Pair's Outlook
GBP/USD pair firmly steps lower this week and has already reached the 200-day SMA at 1.5860. As the pair faces only one-side bullish sentiments since November 2nd, it is possible to experience some upward correction. Also, the price is very close to the weekly S1 level at 1.5839. However, if the price still has a powerful momentum, then possible support level will be even lower at 1.5783, where the weekly and monthly S2 levels converge.
Traders' Sentiment
Bulls feel secure about a further movement on GBP/USD pair and quickly strengthen their positions, as the buy side increased to 55% and the sell side reached 45%. Pending orders segment is distributed by 46% for buy and 54% for sell.
© Dukascopy Bank SA