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- Scotiabank (based on MarketWatch)
Pair's Outlook
The Cable is at the moment eroding a key support, which may entail a massive sell-off. For the time being the area created by the rising line, monthly S1 and 2012 highs, among others, stands its ground, but seems to be likely to give in to the bearish pressure eventually, despite the bullish signals on the weekly time-frame. In this case the Sterling will first target 1.6218/01, then the 200-day SMA.
Traders' Sentiment
After a small dip GBP/USD is presently finding itself a perfect equilibrium, being that there is no difference neither between the numbers of long (51%) and short (49%) positions nor between the numbers of buy (49%) and sell (51%) orders (100 pips up and down from the current price).
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