Note: This section contains information in English only."The factors that are contributing to the strong cyclical and secular U.S. dollar outlook remain."
- Deltec International Group (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]Even though the British currency failed to outperform the American Dollar on Monday, it lost only 13 pips that day, managing to retain its position above the 1.31 mark.[/ANNOUNCE] The 1.31 level keeps providing psychological support, also bolstered by the 20-day SMA, which could trigger some GBP-buying. Technical indicators are now also in favour of a rally, but the resistance area circa 1.3160, namely the weekly and the monthly PPs, remains strong. In case bulls do prevail, a close at 1.3150 will be the most probable outcome, whereas a bearish development could lead the Cable further down towards 1.3025—where the weekly S1 rests.
Traders' Sentiment
Today there are 53% of traders holding short positions (previously 56%), while the number of purchase orders slid from 55 to 48%.
Tue, 30 Aug 2016 05:50:51 GMT
Source: Dukascopy Bank SA
- Deltec International Group (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]Even though the British currency failed to outperform the American Dollar on Monday, it lost only 13 pips that day, managing to retain its position above the 1.31 mark.[/ANNOUNCE] The 1.31 level keeps providing psychological support, also bolstered by the 20-day SMA, which could trigger some GBP-buying. Technical indicators are now also in favour of a rally, but the resistance area circa 1.3160, namely the weekly and the monthly PPs, remains strong. In case bulls do prevail, a close at 1.3150 will be the most probable outcome, whereas a bearish development could lead the Cable further down towards 1.3025—where the weekly S1 rests.
Traders' Sentiment
Today there are 53% of traders holding short positions (previously 56%), while the number of purchase orders slid from 55 to 48%.