© Dukascopy Bank SA
As for this week, the Cable advanced to its highest level in six years, breaching the 1.71 level against the US Dollar to end the session at 1.7106.
Despite the recent rally of the pair, Dukascopy community members hold a rather bearish view on the currency pair, as 56% of those polled think the pair will trade down. According to the weekly survey, traders predict the Cable to finish this week at 1.7003. "Aslamhammad" sees the release on non-farm employment change pushing the pair back to 1.69 levels, while "Nacerdz" relies on the technical indicators which show that the couple is overbought. On the other hand, Khalidamassi argues that the "the pair is supported fundamentally after Mr. Carney hint of rate hike before 2014 end," and is strongly bullish on the Pound.
Among fundamentals, the pair is likely to be impacted by data on U.K. construction PMI due on Wednesday, Services PMI released on Thursday, as well as several data releases on the world's largest economy.
© Dukascopy Bank SA