GBP/USD eyes 1.6300/1.6273

As expected, due to a lack of support, the Sterling pierced through the 55-day SMA and the weekly S1, reaching a more dense demand area around 1.63, which consists of the 2012 highs, 100-day SMA and the monthly S1. Accordingly, there is a good chance that the currency will be unable to move past this point in the nearest future, though eventually it should be breached.

The sentiment with respect to the Great Britain Pound changed from strongly bearish to bullish, since the portion of long positions has soared from 38% up to 57% during the last 24 hours. As for the orders placed on GBP/USD, the number of buy ones also jumped, namely from 56% to 68%.