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 GBP/USD depreciates along the Bollinger band

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fxpulsation




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GBP/USD depreciates along the Bollinger band Empty
PostSubject: GBP/USD depreciates along the Bollinger band   GBP/USD depreciates along the Bollinger band Icon_minitimeFri Jan 18, 2013 9:57 am

GBP/USD depreciates along the Bollinger band

'Against the pound what tends to drive that is not just an improvement in sentiment towards the euro and the euro-zone crisis, but also a sense that if this pressure continues to lift, money-market conditions may tighten in the euro zone.' - Standard Bank Plc. (based on Bloomberg)

Pair's Outlook

The Cable was fluctuating in a wide range yesterday, as the price increased well above the weekly S1 at 1.6017, however, the bearish impetus still had more power and pushed the pair sharply down, closing a session with a negative performance and further slipping along the Bollinger line. The next support levels are the weekly S2 at 1.5912 and the 200-day SMA's and the monthly S2 intersection point at 1.5890.

Traders' Sentiment

The Cable's traders remain bearish for this positions, since 40% of positions are long and 60% are short. Pending orders segment delivers opposite figures, as 60% of pending orders are long and 40% are short.

GBP/USD depreciates along the Bollinger band 728x90_style_7_en
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