- Okasan Securities Co. (based on Bloomberg)
The British Pound remained almost completely unchanged against the US Dollar on Friday, with the monthly PP limiting the losses at 1.4141. However, due to a gap today, trade opened below this mark. Consequently, the monthly PP is now providing immediate resistance, while the second target is located around 1.4250, represented by the weekly PP, the 20 and the 55-day SMAs. Meanwhile, the weekly S1 and the form a support cluster around 1.3977, as a possibility of a development exists, amid technical studies in the medium and longer timeframes remaining .
Market sentiment remains at 63%, compared to 62% on Friday. At the same time, the number of orders to acquire the British currency increased from 58 to 59%.