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"Consumer sentiment is still fragile despite the fact that Christmas is less than a week away"
- GfK Research (based on Bloomberg)
Pair's Outlook
GBP/USD repeats the major currency pair's actions recently. Yesterday the price expressed intention to retest a previous high, however, an impulse was not sufficient and the price retreated back. Today the currency pair shows negative performance and depreciates from the upper Bollinger line. The further support levels are: 1.6243, the weekly R1, and 1.6161, the monthly R1 with a down-trend resistance. If the price slips even lower, than 1.6128 level might be reached, where the weekly PP merges with an up-trend support.
Traders' Sentiment
SWFX market participants remain very pessimistic about the British Pound, as only 23% of traders have buy positions and 77% have short positions. Pending orders segment fluctuates around the neutral level, as 45% of placed orders are buy and 55% are sell.
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