© Dukascopy Bank SA
- Societe Generale (based on Reuters)
Pair's Outlook
While daily technical started to give a positive outlook, weekly bearish signals became even stronger. At the moment the Cable is capped by the Bollinger band, but if the currency pair is willing to rally further, there are the weekly R1 a 1.5464 and monthly R2 at 1.5526 nearby. In the meantime, losses are to be limited by a dense support area at 1.5249/33.
Traders' Sentiment
The portion of bullish traders in the market has been reduced after yesterday's bullish candle, it has fallen from 59% down to 56%, making the overall sentiment neutral towards GBP/USD. At the same time the buy orders (58%) preserve their dominance over the sell ones (42%).
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