© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
Yesterday GBP/USD pair formed a Long Legged Doji candle, which has no body just long shadows on both side. This type of candlestick pattern tempts about a balance of strong opposite forces and a possible trend's reversal. Today we can see the price appreciation, which is likely to turn in a more sustainable uptrend. Resistance level might be considered as 1.60, which is historically checked and always causes some trouble to pass it. Next resistance is at 1.6086, where the monthly PP and the 55-day SMA coincide.
Traders' Sentiment
Traders' sentiments for GBP/USD pair shows some changes, as buyers increased their positions by 4% to 43%, thus sellers part decreased to 57%. However, equilibrium in pending market stays, as each of buyers and sellers side have 50% of the market.
© Dukascopy Bank SA