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Technical Analysis
Daily Technical Analysis for Majors by Dukascopy
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[QUOTE="Anastasia DC, post: 109638, member: 37587"] [B]GBP/USD dives under 1.3250; pair looks south[/B] [IMG]https://i.gyazo.com/55674e4d4e34e4686e5ea61777f90ec3.png[/IMG] [I]"Given how dovish market pricing is, the hurdle for the dollar to rally is low, while the hurdle for it to fall in any meaningful way is substantial." [/I] [I]- Goldman Sachs Group Inc. (based on Bloomberg) [/I] [B]Pair's Outlook[/B] The support trendline (lower bound of the five-week channel) we expected to hold the pair failed before the Cable gained a solid foothold above 1.34 dollars, giving way for a sell-off. The immediate supports are represented by the 55-day SMA and monthly PP, but the current decline is likely to rush past the end-of-August lows of 1.3050 towards 1.2850, which proved to be significant both in July and August. In order for the pair to restore the bullish outlook, the price needs to close above 1.34 and confirm this level as the new support. [B]Traders' Sentiment[/B] The number of bears decreased with depreciation of the Sterling—their share went from 57 to 52%. Nevertheless, there was no change whatsoever in the distribution between the buy (44%) and sell (56%) orders. [IMG]https://i.gyazo.com/f1f9c9ccd92548f006a29621a3a6d837.png[/IMG] [/QUOTE]
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