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– Market Pulse (based on investing.com)
Pair's Outlook
The Pound was rather unchanged against the Greenback on early Friday morning. However, the previous session went exactly as forecasted. The rebound of the Sterling was not sustained, and in the second half of Thursday's trading session the currency exchange rate once more plummeted, as it fell through the weekly S1 at 1.2335 and ended the session as low as 1.2284. The rate did not fall to the next support level at 1.2251 because it was stopped by the lower Bollinger band. However, on Friday the band has also moved to the 1.2246 level, opening the way for further downfall.
Traders' Sentiment
65% SWFX positions were long on Friday, compared to 63% on Thursday. Meanwhile, 59% of trader set up orders were to sell the Pound.
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