Dukascopy

GBP/USD gravitates towards weekly S1

FX:GBPUSD   British Pound/U.S. Dollar
28 0 0
"With commodity prices coming under renewed downward pressure, the Bank of England may well find it difficult to hike rates in 2016. Put simply it looks to us as if 2016 will be the year that sterling finally loses its shine."
- Bank of New York             Mellon (based on Business Recorder)

Pair's Outlook
The Sterling made its way closer to the Nov low yesterday, by falling towards the major level of 1.51 against the US Dollar             . The Cable appears to be glued to the weekly S1 level and refuses to drop below 1.5075 this week, suggesting that the exchange rate could edge approximately 25 pips higher today. Although technical studies are bolstering this outcome with their bullish signals, the downslide might be extended with the weekly S2 and the Nov low acting as the nearest support around 1.5035.

Traders' Sentiment
The outlook towards the GBP/USD             improved again today, with 54% of all positions being long (previously 53%). The share of sell orders barely changed over the day, taking up 57% of the market.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out