GBP/USD: Slightly weakened against the dollar
Pound spared the plummet in commodity currencies, though fails to outperform against the greenback.
GBP/USD Technical analysis, overview, strategies, and levels
The pound has remained relatively resilient as of late despite the market sell-off that has hurt commodity and risk-related currencies while aiding safe haven ones instead, though its mid-term weekly overview's stalling bull trend conflicts with that of the short-term overview where most of its main technical indicators are neutral but with its price above all its main long-term moving averages – and just above its 50-day moving average. A negative DMI (Directional Movement Index) cross did occur yesterday, and far more will be needed to shift its current consolidatory overview on the daily. The clock is ticking until the UK officially exits the EU, with the BoE's (Bank of England) monetary policy announcement this Thursday.
IG client* and CoT sentiment for GBP/USD
GBP/USD Chart with retail and institutional sentiment
* The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.
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