GBP/USD eases bearish sentiments around 55-day SMA

Yesterday the British Pound extended a bearish move, as the price nearly reached the 55-day SMA at 1.5291. The Cable depreciates for a second week, but any signs of a potential reversal are not seen yet. The closest support after the SMA is a 1.5234 level, where the weekly S1 merges with the lower Bollinger band. However, a settlement beneath the 55-day SMA would be the last step of confirmation that the pair is now in a strong bullish trend.

SWFX marketplace data do not indicate any differences comparing to yesterday's situation, as the buy side remains in the lead with a 53% share. Placed orders segment is moderately bullish with 52% of buy orders.