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- TD Securities (based on FXStreet)
Pair's Outlook
The GBP/USD currency pair's trade was rather subdued on Thursday, with the bearish momentum ultimately prevailing. However, the immediate support in face of the weekly S2 remained intact, preventing the Pound from sustaining sharper losses for the second day, indicating that a possible rebound could occur today. A lot depends on the US fundamental data; in case it turns into Sterling's favour, the pair is expected to retest the 1.32 mark. On the other hand, the Buck could continue strengthening, leading the Pound further down towards the 1.2640, where the weekly S3 and the monthly S1 form a strong support area.
Traders' Sentiment
Bulls remain strong, taking up 63% of the market (previously 65%). All pending orders are equally divided between the buy and the sell ones.
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