GBP/USD settles beneath the 55-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Subsequently sterling has taken some heat so cable has had a go through that $1.60 threshold. If we close below the $1.5995 level that probably suggests we will see further weakness."
- Canadian Imperial Bank of Commerce (based on Bloomberg)


Pair's Outlook
GBP/USD extends its bearish movement and gradually depreciates along the lower Bollinger line. The price has settled beneath the 55-day SMA yesterday and accomplished a great down-side movement. Even though a probability to retest the SMA still remains, further down-side movement is more likely - the closest support levels are at 1.5924, where the weekly S1 is located, and 1.5879, where the monthly S2 merges with the 200-day SMA.

Traders' Sentiment
The British Pound maintains its bullish positions, as 66% of positions are long and 34% are short. Placed orders segment gradually increases its bullish sentiments and now there are 55% of buy orders and 45% of sell orders

© Dukascopy Bank SA

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