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"The currency market focused on rising U.S. yields and the parade of FOMC hawks who left the door open to a 2015 hike. This drove the USD to rally broadly."
- ANZ (based on Reuters)
Pair's Outlook
The GBP/USD currency pair was pushed back down upon reaching the 38.20% Fibo yesterday. Nonetheless, losses failed to drop below 1.55, as the remaining levels of the cluster provided sufficient support. There are no clear signs of a possible appreciation, although a correction could take place, unless the weekly and monthly PPs give in, which could cause the Cable to fall all the way to the 1.54 major level, also bolstered by the 20-day SMA. Meanwhile, the 55 and 100-day SMAs are now preventing the pair from remaining near its previous week's high.
Traders' Sentiment
The gap between bulls and bears narrowed from 14 to 2% points, while the share of purchase orders increased to 54% (up from 36%).
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