GBP/USD: UK employment data released today
Retail bias shifts to the middle ahead of the event, CoT speculators slight long 53%.
GBP/USD Technical analysis, overview, strategies, and levels
The pound was a relative underperformer in the FX market, though managed to best commodity currencies' CAD and AUD, the former hit by lower energy prices as oil prices went briefly into negative territory. Overall, the weekly overview is volatile while awaiting news that could break its weekly pivot points, but has been more reserved in the short-term with a consolidatory technical overview. Significant data is set to be released including UK employment today and CPI (Consumer Price Index) tomorrow, and pivot points could get tested more easily.
IG client* and CoT sentiment for GBP/USD
Going into today's employment data retail traders are in the middle having shifted from a slight majority short 53% at the start of the week, while last Friday's CoT (Commitment of Traders) report puts larger speculators at a slight majority long 53%.
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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