© Dukascopy
- Bank of England Governor (based on Bloomberg)
Pair's Outlook
Yesterday GBP/USD pair broke through 1.5995 support level and slipped to a 1.5932 zone, where the weekly S2 goes. As the currency pair shows sighs of depreciation, it is very likely that currency pair will reach at least 1.5880/1.5860 zone, where the historical support levels and the monthly S1 and weekly S2 lie. On the other hand, since the peak on 21st of September, the price has depreciated a lot and H4 RSI value is already around 30 and in D1 time frame RSI value is 38.
Traders' Sentiment
As GBP/USD price falls, more people open long positions, willing to catch a bottom. Current figures of SWFX market are: 40% have a long position and 60% have a short. Pending orders are distributed almost equally, as 48% for a buy and 52% for a sell.
© Dukascopy