- OANDA (based on Market Watch)
The Sterling succeeded in preserving the ascending channel's support line yesterday, having closed with only a 31-pip slump. Nevertheless, there has been a more than 200-pip spike in the GBP/USD pair earlier today, being driven by unknown circumstances. This surge provides a great selling opportunity, thus, the bearish momentum could soon prevail. The Cable still faces a strong resistance cluster around 1.4535, formed by the 20-day SMA, the weekly and the monthly PPs. From below the channel's trend-line is providing support along with the 55-day SMA, a breach of which today is unlikely to occur.
For the third time in a row market sentiment remains bullish at 54%. At the same time, the portion of orders to purchase the British currency edged lower from 67 to 45%.