© Dukascopy Bank SA
- FxPro Group Ltd. (based on Bloomberg)
Pair's Outlook
Yesterday a positive performance of the cable has turned into a loss in the end of trading hours, as the price has reached a 1.5983 level. Today, the price shows positive sentiments and is slightly higher, but the current level does not provide any support, thus any appreciation is not sustainable. The further support level is situated at 1.5958, where the weekly and monthly S1 levels converge with the lower Bollinger line.
Traders' Sentiment
Bulls continue to strengthen their positions in GBP/USD pair, as long positions' amount in the SWFX market has increased by 3% since yesterday to 42%. Distribution of pending orders is around an equilibrium point, as 47% traders are place an order for a long position and 53% for a short.
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