Dukascopy_Analyst

GBP/USD attempts to bounce back from the down-trend

FX:GBPUSD   Pound Sterling/U.S. Dollar
90 0 1
Until we get stronger or more hawkish signals from the Fed, the dollar's performance could be somewhat moderate."
- Wells Fargo Securities (based on CNBC)

Pair's Outlook
The Sterling slightly exceeded expectations yesterday, as the corrective decline stretched beyond the immediate support. As a result, the GBP/USD             retested the falling wedge's lower border, but today's performance will determine future viability of this pattern. The lower border is also reinforced by the monthly and weekly S1s, suggesting a rebound is due; with the weekly PP at 1.4899 as the nearest resistance, which is likely to be ignored if bulls prevail. However, technical studies retain bearish signals, implying that a breakout from the pattern's trading range is also possible.

Traders' Sentiment
Bulls keep losing ground, as 65% of all positions are long (previously 66%). Buy orders are outnumbering the sell ones by only 2% points.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out