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- DailyFX (based on Business Recorder)
Pair's Outlook
The GBP/USD pair surprised with its performance yesterday, having recovered from intraday lows and retaken the 1.30 level. However, technical studies keep suggesting the Cable is to edge lower. Today's US fundamental data could be the catalyst for a possible decline, in which case the main support will still be the cluster around 1.2880. Taking into account that the Sterling persistently remained above the 1.2950 level for more than a week, another bullish development would not be a surprise. Technically, the 1.31 major level should be the upper border, but 1.3150 is not out of the question either.
Traders' Sentiment
Market sentiment almost reached a perfect equilibrium, with bulls and bears taking up 51% and 49% of the market, respectively. Meanwhile, the portion of buy orders remains unchanged at 56%.
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