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"Stronger data is also at the margin helping the [dollar], as the data acts as a rebut to recent dovish speeches by Ben Bernanke and Janet Yellen."
- Deutsche Bank (based on MarketWatch)
Pair's Outlook
The Cable fluctuates in a wide range with the upper boundary being the weekly R1 at 1.5175 and the lower boundary being the 1.50 level. However, the support is gradually sliding down, what indicates a pair's momentum to reach new lows constantly, therefore it is very likely to see the pair testing the S1 level at 1.4939 or even the lower Bollinger band at 1.4871, where it merges with the monthly S1 and weekly S2.
Traders' Sentiment
The British Pound strengthens its position as the exchange rate slips to new lows. The bullish side expanded to 66%, whereas the bearish side contracted to 34%. Pending orders market supports a bearish trend, since 39% of waiting orders are long and 61% are short.
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