GBP/USD depreciates to 20-day SMA

The Cable dropped yesterday, despite the fact that the Bank of England did not change its monetary easing programme. Currently the pair is driven by sentiments, as market participants do not experience any bad macro news from the country. The spot price is at the 20-day SMA at 1.5434 and most probably will depreciate towards the 100-day SMA at 1.5394. Considering a long-term outlook, the pair should ease the pace around a 1.5380 level, where upside-sloping resistance is located.

SWFX marketplace participants cut their short positions by 6% to 55%, as the price noticeably decreased this week. In placed orders market bulls have a minor advantage, since 52% of orders are buy ones.