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"These results suggest we should see further jobs growth over the summer and autumn."
- CIPD (based on Reuters)
Pair's Outlook
Pair seems to have stabilized after skyrocketing last week and at the moment is trading slightly above the 200-day SMA around 1.455. It seems that the pair's moves have more directional signal that most of the other currency pairs. From this we could expect it to bounce once more and test 1.565 in the nearest future. However, dips till 1.536 should not come as a complete surprise either.
Traders' Sentiment
Bulls might have taken some of the market (3%) back under their control, but bears continue to hold overwhelming majority (66%) of all open positions. Distribution of pending orders remains largely unchanged as 58% of them are in favour of the bears as well.
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