© Dukascopy Bank SA
- Mizuho Bank (based on Bloomberg)
Pair's Outlook
Originally, the Sterling did receive a strong upward impetus after touching upon the support at 1.66. However, the bullish momentum was exhausted, once the pair approached the weekly PP, and gave way for a sell-off. Now the Cable is again trading near the monthly PP and the up-trend, meaning there are still good reasons for the price to rise in the future.
Traders' Sentiment
The bearish market participants are slowly but surely enhancing their advantage over the bullish traders. Currently the former take up 57% of the market, while the latter—43%. As for the orders placed 50 pips from the spot, the share of sell ones surged from 44% up to 59%.
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