- RBC (based on Business Recorder)
The Cable edged lower for the sixth time in a row on Tuesday, but without the immediate support cluster getting violated. However, this cluster weakened today and is under the risk of getting pierced, as the inched significantly lower and is now reinforcing the cluster around the 2015 low of 1.4565, which in turn should limit the losses. At the same time, a possibility for the momentum to be regained exists if the US fundamental data disappointing, thus, weakening the US Dollar versus the Pound.
More traders (62%) retain a positive outlook towards the Sterling today, compared to only 51% on Tuesday. Meanwhile, the portion of orders to acquire the GBP lost 6% points, falling down to 57%.