© Dukascopy Bank SA
- Ben Bernanke, FRS Chairman (based on MarketWatch)
Pair's Outlook
The Cable is on the slide this week, as the price bounced to the weekly pivot point at 1.5142 and dropped beneath a 1.51 benchmark. However, Sterling's depreciation below 1.50 is not very likely, since technical indicators are close to an oversold zone. It would be more realistic to see a bullish correction, which would check the major SMAs around a 1.53 level and would measure strength of the on-going bearish trend.
Traders' Sentiment
Bullish traders reduced their share by another 4% to 59%, but still remain the leading power in the market. Placed orders segment is bearish, since 58% of orders are ready to sell the Pound against the buck.
© Dukascopy Bank SA