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- BK Asset Management (based on MarketWatch)
Pair's Outlook
Despite the obstacles the Sterling encounters, the currency is unceasingly moving forward. Since the monthly R1 has been broken, GBP/USD is now free to test the rising resistance line at 1.6750, which has been limiting pair's gains starting from the second quarter of 2013. Consequently, a probability of a strong sell-off from this resistance is fairly high.
Traders' Sentiment
Most of the SWFX marketplace participants view the Great Britain Pound as overly expensive in terms of the U.S. dollars—66% of open positions are presently short. Meanwhile, the distribution between the buy and sell orders is also largely unchanged—39% and 61% respectively.
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