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- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
GBP/USD reversed its trend and quickly appreciated above the 55-day SMA and even reached the 20-day SMA line at 1.6142 yesterday. Currently, the price is testing the 20-day SMA from above, which may indicate about a beginning of a bullish trend, as the price is in the upper sector of Bollinger bands and above the 55-day SMA, but the last month's movement is bounded by the down-side resistance, which starts at the 19th of December and is still leading the bearish trend.
Traders' Sentiment
SWFX market traders have reversed their positions, as 35% of orders are long and 65% are short. Pending orders situation is rather neutral than bearish, as 48% are long orders and 52% are short orders.
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