GBP/USD breaches the 20-day SMA

The Cable demonstrates strong bullish sentiments by increasing from the monthly S1 at 1.4866 to the weekly R1 at 1.5110 in three trading sessions. Seems that GBP/USD has finally found some support, located at 1.4856, for the recent unlimited depreciation and it consists of the Bollinger band with the weekly and monthly S1. The further appreciation might face difficulties very soon, as a layer of resistances is positioned at a 1.5272/1.5373 area.

SWFX market participants increased a bullish share by 2% to 69% indicating traders' intentions to experience a correction in the Cable. Placed orders segment is almost balanced, as 53% are orders for a long position and 47% for a short.