Dukascopy - Analytics


    472.25 6.25/10
    83% of positive reviews

    GBP/USD attempts to retake 1.43

    © Dukascopy Bank SA
    "In the current environment however, with investors becoming increasingly worried about the impact of the slowdown in China, concerns over the UK economy and the risk of a 'Brexit' look likely to continue to haunt sterling."
    - HiFX (based on Business Recorder)

    Pair's Outlook
    On Friday the Cable suffered a 150-pip loss, breaching the immediate support and closing in on the 2010 low. The Pound is now supported by the Bollinger band, which is the final obstacle, preventing the GBP/USD from falling to the lowest in six years. At the same time, the  weekly PP and the monthly S2 now form a resistance cluster circa 1.4380, but a test today is unlikely. Nevertheless, the Sterling is expected to undergo a correction and recover some losses against the Buck, despite technical indicators retaining mixed signals.

    Traders' Sentiment
    Bullish market sentiment remains unchanged at 63%, whereas the percentage of sell orders grew from 57 to 65%.

    © Dukascopy Bank SA

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree