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- Western Union (based on Reuters)
Pair's Outlook
As the cable checked the upper line (1.6050) of downwards sloping channel, the price gradually slips lower and yesterday tested the 100-day SMA at 1.5975. If the cable brakes the channel, it very likely to see the price appreciation to the Bollinger band at 1.6070, otherwise, the price should depreciate at least till 1.5958, the weekly S1, or 1.5940, the 20-day SMA.
Traders' Sentiment
SWFX market participants' expectations on GBP/USD currency pair do not change and the sell side still controls the majority, 59%, and the buy side 41%. Placed orders market fluctuates around 50% benchmark.
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