© Dukascopy Bank SA
"The outlook stays bearish so long as the pair [GBP/USD] fails to sustain above 1.5 on a daily closing basis. Moreover, repeated failures at/around 1.5 area could weigh heavily on the pair."
- Omkar Godbole, FX Street (based on FX Street)
Pair's Outlook
Last Friday, the British currency behaved according to the forecast – appreciated versus the Greenback. However, the Cable edged up slightly less than expected. The 1.5050 level was tested, but the monthly PP prevented the pair from rising higher. The pair opened trade just under the monthly PP, which should force the Sterling down, while the technical indicators are giving mixed signals. However, a jump over 1.4965 also has a decent chance to happen.
Traders' Sentiment
The percentage of longs remains unchanged at 43%, while the sell order portion increased, taking up 66% of the market.
© Dukascopy Bank SA