© Dukascopy Bank SA
- Item Club (based on Reuters)
Pair's Outlook
The Cable shows positive performance in the morning of session, as the price gently appreciates towards the weekly PP at 1.5335, following a spike down. GBP/USD did not reach the 20-day SMA at 1.5253, which might be considered as a proper test of an ongoing trend, thus it is very likely that the pair will slip lower and test the level that merges with the weekly S1 at 1.5259.
Traders' Sentiment
A weak majority is in control of GBP/USD pair, as 55% of opened positions are long. Pending orders market is distributed almost in the same manner—54% of orders are buy. Both markets have bullish sentiments, implying rather big expectations to see a new peak soon.
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