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    GBP/USD slumps for the fourth day

    © Dukascopy Bank SA
    "The dollar is following a well-worn path of being bought on expectations of strong payrolls. Yellen touched on the Fed's data dependent aspect and the market has become more sensitive to indicators."
    - Barclays (based on Reuters) 

    Pair's Outlook
    On Thursday, the GBP/USD pair did not surprise with its behaviour, as it slumped again for the fourth consecutive day. The Sterling tested the weekly S2 support at 1.5219 but failed to breach it. Ultimately, the pair ended the trading day at 1.5236. Regardless of the technical studies showing neutral signs, the currency is still likely to plunge for the fifth day. Closest resistance is represented by the weekly S2, as the US data is not expected to be strong enough to push the Pound lower.

    Traders' Sentiment
    The gap between long and short positions narrowed, as 58% of traders remain positive towards the Sterling. At the same time, the portion of buy orders in 100-pip range declined to 39%.

    © Dukascopy Bank SA

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