© Dukascopy Bank
"Events in the euro zone will remain the main driver for sterling in coming days"
- Rabobank (based on Reuters)
Industry outlook
After bouncing off a formidable support at 1.5272 the Cable is recovering. Nonetheless, current rally is unlikely to extend beyond 55 day ma at 1.5624 and an additional resistance at 1.5669.
Traders' sentiment
According to traders' sentiment, GBP/USD is bearish, since long positions (41%) are outnumbered by the amount of short ones opened (59%).
Long position opened
Initial resistance area for the pair is situated at 1.5477. Subsequent goals for the bullish market payers may be found at 1.5516 and 1.5592.
Short position opened
Bearish market players will pay attention to a near-term support at 1.5362. The downtrend continuation will establish following targets for traders: S2 at 1.5286 and S3 at 1.5247.
© Dukascopy Bank