© Dukascopy Bank SA
- Peter Bolton King, RICS director (based on Reuters)
Pair's Outlook
The Cable started the week with a sharp bearish impetus, as the price slipped from the 20-day SMA and almost reached the lower Bollinger line at 1.5619. Nevertheless, that was a second attempt to breach the 20-day SMA, but it was thrown off to the recent low at 1.5630. Seems that the price has settled beneath the major up-trend support line at 1.5733 and area for the further depreciation is free.
Traders' Sentiment
The gap between bulls and bears sharply widened, as traders opened a lot of long positions and the bullish side has reached 61%. Waiting orders segment also experiences changes, as current situation has reached an equilibrium and both sides have equal shares.
© Dukascopy Bank SA