© Dukascopy Bank SA
"There's already great speculation about the exact timing of the first rate hike [by the BOE] and this decision is becoming more balanced. It could happen sooner than markets currently expect."
- Mark Carney, Bank of England Governor
Pair's Outlook
Relative tranquility of GBP/USD was interrupted by Mark Carney, who substantially increased attractiveness of the Pound by his comments. Because of this the rate violated most of the nearby resistances, including an important supply area at 1.6816/1.6783. However, now the pair has the chance to re-challenge 2009 highs at 1.70. According to the majority of the technical indicators, the Sterling is likely to succeed and continue the advancement.
Traders' Sentiment
The unexpected surge elicited a strong response from the SWFX traders. The share of short positions notably expanded, now they take up 69% of the market. Simultaneously, the percentage of sell orders grew from 52% up to 68%.
© Dukascopy Bank SA