GBP/USD inches lower

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Fourth quarter growth is going to be very weak in the UK and Chancellor Osborne's statement did not put a bright shine on things. Following that we have got a heavy probability of a UK (rating) downgrade and that's not going to be good for sterling"
- Commerzbank (based on Bloomberg)

Pair's Outlook
GBP/USD pair continues to depreciate and today the price inches lower towards the key support level at 1.6011, where a downward trend-line intersects with the monthly PP and the 20-day, 55-day and 100-day SMAs. Around this level it is very likely to see some consolidation and after that a further price decrease to a 1.5860 area, where the 200-day SMA crosses with the lower Bollinger line.

Traders' Sentiment
GBP/USD pair maintains huge expectations to experience a appreciation of the Dollar, as 25% of traders have long positions and 75% have short positions. Pending orders market is much more neutral, as 44% traders have long orders and 56% have short orders.

© Dukascopy Bank SA
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