Note: This section contains information in English only."We think that GBP weakness will largely be driven by the lowering of bond yields but then also by the balance sheet expansion of the BoE."
- Morgan Stanley (based on PoundSterlingLive)
Pair's Outlook
[ANNOUNCE]The Pound's attempts to recover from a five-day loss streak were in vain, as almost all intraday gains were erased yesterday, leaving the Cable relatively unchanged.[/ANNOUNCE] The failure to appreciate suggests that the bearish trend remains dominant and technical indicators now also support this by giving bearish signals in the daily timeframe. However, another sharp decline is unlikely to take place today, due to lack of potential market movers. Furthermore, the 1.30 major level keeps acting as a psychological support, with the Bollinger band and the weekly S1 being the closest solid demand area around 1.2950, which are to limit the losses in case bears take over the market today.
Traders' Sentiment
Market sentiment returned to its Tuesday's level, with bulls now taking up 55% of the market, compared to 52% on Wednesday.
Thu, 11 Aug 2016 06:24:04 GMT
Source: Dukascopy Bank SA
- Morgan Stanley (based on PoundSterlingLive)
Pair's Outlook
[ANNOUNCE]The Pound's attempts to recover from a five-day loss streak were in vain, as almost all intraday gains were erased yesterday, leaving the Cable relatively unchanged.[/ANNOUNCE] The failure to appreciate suggests that the bearish trend remains dominant and technical indicators now also support this by giving bearish signals in the daily timeframe. However, another sharp decline is unlikely to take place today, due to lack of potential market movers. Furthermore, the 1.30 major level keeps acting as a psychological support, with the Bollinger band and the weekly S1 being the closest solid demand area around 1.2950, which are to limit the losses in case bears take over the market today.
Traders' Sentiment
Market sentiment returned to its Tuesday's level, with bulls now taking up 55% of the market, compared to 52% on Wednesday.