© Dukascopy Bank SA
- Mervin King the Bank of England governor (based on Reuters)
Pair's Outlook
The Cable experiences hard times, as the price sharply depreciates for the ninth consecutive session. The price has easily breached the 200-day SMA at 1.5900 and is rapidly moving towards a 1.5756/47 level, where the monthly S3 intersects the weekly S1. Since the price possesses such a strong bearish impetus, the RSI has already slipped to an oversold zone, as it has a value of 29.
Traders' Sentiment
Opened positions' segment delivers rather neutral sentiments of market traders, since both sides, bulls and bears, have 50% shares. Pending orders segment is slightly bullish, as 57% of waiting orders are long and 43% are short.
© Dukascopy Bank SA