© Dukascopy Bank SA
"Supply is restrained, and without a sudden rush of properties hitting the market, prices will rise even more over coming months. The bottom line is that the divide between London and the rest of the UK housing market is deepening."
- LSL Property Services (based on Reuters)
Pair's Outlook
Pair maintains it's momentum and at the moment is testing weekly R2. As it is a standalone technical resistance it should give much of a trouble for the pair. However, it would be a smart decision to anticipate some, even if minor, bearish correction after the 300 pip rally few days ago. As 1.574 seems a little bit too far for that it might be that we will see some unexpected sell off between there and the weekly R2. 1.565 in such case might have some effects for the traders.
Traders' Sentiment
Bears strengthened their presence in the market further. At the moment they hold 69% (+4% since yesterday; +12% in the last few days) of all outstanding positions in the market. Share of pending short orders increased by 4% as well and is at 57% gauge.
© Dukascopy Bank SA