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- Canadian Imperial Bank of Commerce (based on Bloomberg)
Pair's Outlook
GBP/USD extends its bearish movement and gradually depreciates along the lower Bollinger line. The price has settled beneath the 55-day SMA yesterday and accomplished a great down-side movement. Even though a probability to retest the SMA still remains, further down-side movement is more likely - the closest support levels are at 1.5924, where the weekly S1 is located, and 1.5879, where the monthly S2 merges with the 200-day SMA.
Traders' Sentiment
The British Pound maintains its bullish positions, as 66% of positions are long and 34% are short. Placed orders segment gradually increases its bullish sentiments and now there are 55% of buy orders and 45% of sell orders
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