GBP/USD slips beneath the 20-day SMA

The British Pound was under bearish pressure yesterday, as the pair dropped heavily, breaching a recent low at 1.5264 and the 20-day SMA at 1.5261. Currently the pair is between two vey important levels - the 55-day SMA at 1.5193 and the middle line of the Bollinger band. Settlement outside one of these lines would indicate totally different trading signals, but both of them would have a big importance and would be supported by market participants.

SWFX market investors increased bullish sentiments noticeably overnight, as the buy side increased by 10%, reaching a share of 63%. Waiting orders market is slightly bullish with 54% of orders ready to purchase the British Pound.