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Pair's Outlook
The Cable experienced minor volatility on Thursday, ultimately suffering a slight decline on mixed US economic data. Nevertheless, the Sterling remains at a three-week high, but the situation might change today. The 100-day SMA and the monthly R1 keep providing resistance around 1.5485, lowering the Pound's chances of edging higher. The support cluster just above 1.54 is also unlikely to give in, suggesting that the GBP/USD is to remain within the borders of the two clusters. Furthermore, technical indicators shifted from bullish to mixed both in the daily and the weekly timeframes.
Traders' Sentiment
Although the SWFX sentiment remains bullish at 56% (previously 58%), the share of buy orders declined significantly, from 52 to 29%.
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