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"We have to make jobs more attractive and welfare less attractive."
- Parliamentary secretary to the prime minister (based on Bloomberg)
Pair's Outlook
Not with ease but the pair advanced above the cluster of strong resistance around 0.8267/37. As the pair is yet stalling we might see a pullback, but it should not have any medium to long term implications. Vicinity of 83 cent mark should be tested soon. Some minor turbulence should be expected there, but from the looks of things we might start looking at 2014 high pretty soon. Short term dips remain possible but rather unlikely at the moment.
Traders' Sentiment
Although bullish side of open positions is back below 40% level the long side of pending orders increased by at least 17% and is at 55-90% level depending on the range around the current market price.
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