GBP/USD on the edge of falling to 2015 low
"More and more, we see a certain level of discomfort among the Fed regarding the strength of the dollar."
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
A much stronger-than-anticipated ADP data on Tuesday contributed to the Cable's weakness that day, pushing the pair to retest the 1.46 level. Nonetheless, another decline is likely to be short-lived, as the GBP/USD is now supported by a strong cluster around the 2015 low of 1.4565, represented by the weekly S2; monthly 2 and the Bollinger band. Due to the lack of sufficient downward momentum a breach is not yet expected; however, although a rebound is possible, the weekly S1 at 1.4668 is to provide resistance and prevent the Sterling from climbing too high.
Traders' Sentiment
Today 64% of traders hold long positions (compared to 62% yesterday), while the share of buy orders inched up from 57 to 58%.
- Toronto-Dominion Bank (based on Bloomberg)
Pair's Outlook
A much stronger-than-anticipated ADP data on Tuesday contributed to the Cable's weakness that day, pushing the pair to retest the 1.46 level. Nonetheless, another decline is likely to be short-lived, as the GBP/USD is now supported by a strong cluster around the 2015 low of 1.4565, represented by the weekly S2; monthly 2 and the Bollinger band. Due to the lack of sufficient downward momentum a breach is not yet expected; however, although a rebound is possible, the weekly S1 at 1.4668 is to provide resistance and prevent the Sterling from climbing too high.
Traders' Sentiment
Today 64% of traders hold long positions (compared to 62% yesterday), while the share of buy orders inched up from 57 to 58%.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.