© Dukascopy Bank
"The U.K. will define its contribution to [IMF] in early 2012"
- Euro Finance Ministers (based on Bloomberg)
пЃ® Industry outlook
Since the Cable is supported by a tough zone at 1.5443/23 and a level of 1.5347, the current recovery is likely to extend higher, though resistances at 1.5562, 1.5745 and 1.5780 will hamper its further movement.
пЃ® Traders' sentiment
Traders' sentiment in GBP/USD market has sharply turned bearish. Only 38.06% of positions are long, while the rest (61.94%) are now short.
пЃ® Long position opened
Largest brokers set a new long position target as a break of 1.5540 may become an encouraging bullish sign en route to 1.5583. If the uptrend remains, the third target for intraday trading will be 1.5621.
пЃ® Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.5459, 1.5421 and 1.5378.
© Dukascopy Bank